ScottishPower has today hailed its move “to the forefront of the UK’s solar industry”, after agreeing a £500m investment in projects that are set to collectively power the equivalent of 220,000 homes.
The UK-wide projects are all in advanced stages of development and are expected to be operational by 2025, in the process increasing the firm’s share of the solar power market from two per cent to nine per cent. The investment includes two deals to acquire 17 photovoltaic (PV) sites with a combined capacity of 800MW, ScottishPower announced today.
The company said the deals confirm its commitment to growing the onshore renewables market across the UK, where it is the only 100 per cent green-integrated utility.
The deal also supports parent company Iberdrola Group’s clean energy plans. As of September 2021, the Spanish-headquartered energy giant has almost 3GW of installed PV generation capacity worldwide, with projects across Europe