Quinbrook closes financing for Cleve Hill solar park in UK

Quinbrook Infrastructure Partners has closed a grounds indebtedness financing for the Cleve Hill star parkland successful Kent, UK.

The 373MW star and 150MW artillery vigor retention strategy volition beryllium the UK's largest star and artillery retention task nether construction, with operations expected to commence during 2025.

The task financing - a £218.5m ($282.5m) word indebtedness and a £20m VAT installation - is provided by Lloyds and NatWest.

The financing, the largest of its benignant successful the UK, was structured successful 2 stages.

Quinbrook managing manager and UK determination person Keith Gains stated: “Cleve Hill is simply a exemplary for the improvement and financing of aboriginal large-scale projects successful the UK that tin meaningfully enactment the country’s decarbonisation goals portion spurring economical maturation and semipermanent occupation opportunities for section communities.

“The record-breaking financing secured is the latest milestone for this flagship project, and our occurrence present is simply a testament to the hard enactment and adjacent collaboration of the Quinbrook and Private Energy Partners teams and our lending partners.”

The star PV word loans were finalised successful August 2024, portion the artillery vigor retention strategy installation volition beryllium implicit successful March 2025.

The task secured the largest grant for a UK star task successful Round 4 of the government's 15-year declaration for quality auction scheme.

A landmark offtake statement with Tesco for 65% of the star procreation and a 15-year capableness marketplace statement for the artillery retention strategy heighten its fiscal viability.

The capableness marketplace statement ensures that the task is compensated for maintaining powerfulness procreation capabilities during high-demand periods, improving grid reliability.

The statement contributes to full contracted and index-linked revenues exceeding £480m.

Cleve Hill received improvement consent successful May 2020 and is expected to trim c emissions by 142,000 tonnes (t) successful its archetypal operational year.

It aims to present a nett biodiversity summation of 67% and is projected to enactment 2,500 jobs and make £114m successful section socio-economic benefits.

Quinbrook was advised by Norton Rose Fulbright for this financing.

In March 2025, Quinbrook announced the acquisition of the 350MW Mallard Pass star photovoltaic task successful the UK.

"Quinbrook closes financing for Cleve Hill star parkland successful UK" was primitively created and published by Power Technology, a GlobalData owned brand.

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