Friday, 8 October 2021
Strategic Power Projects (SPP) a leading renewables developer has partnered with Gresham House, a specialist alternative asset manager to deliver a pipeline of renewable energy projects into new build solar and battery storage assets throughout Ireland.
The partnership is expected to have a combined capacity of well over 1GW across Northern Ireland and the Republic of Ireland, with site locations secured close to major electricity grid infrastructure hubs.
Recently, the SPP team have secured planning approval for a number of utility scale Solar PV and Battery Energy Storage sites, one of which is set to become the largest hybrid project in the country once built.
Paul Carson, Managing Director, Strategic Power Projects said, “Partnering with Gresham House allows us to build a powerful combination of funding, knowledge and experience of developing the highest quality assets.
“These are critical times for renewable energy in Ireland. The concerning uncertainty regarding energy only serves to emphasise the need for more renewables development with a particular focus on battery energy storage in providing stability to the grid.
“Our partnership with Gresham House is perfectly placed to help solve the energy problems Ireland is currently facing and we look forward to generating impactful renewable energy assets that will make a real difference and continue to move the country towards a carbon neutral economy by 2050.
“We were delighted with the outcome of our recent planning applications and are dedicated to working closely with land-owners and community groups to drive change and to empower consumer choice. We feel it’s incredibly important that the public understand what solar and battery storage assets will achieve for a brighter and cleaner future in Ireland.”
The agreement will provide Gresham House with exclusivity to acquire the utility-scale solar and BESS assets once fully consented. Development activities will be undertaken by SPP, with Gresham house offering support based on its experience as a relative ‘first mover’ investor in both solar and BESS asset classes.
Once projects are fully consented, the parties will tender for construction and operational phase services, with funds under the management of Gresham House intending to own the assets for their full operational lives.
Peter Bolton, Gresham House Investment Director, said: “Gresham House has recently increased its activities in Ireland through the acquisition of Appian Asset Management Limited and sees the solar and BESS sectors as attractive adjacent markets to our operations in Great Britain. The portfolio under development by SPP is of high quality and we look forward to working with their team of experts throughout the asset lifecycle.
“SPP’s experience and straightforward commercial style makes them an ideal partner for us to grow alongside.”
Photo: Paul Carson Managing Director, Strategic Power Projects