Vantage RE has signed an engineering, procurement & construction (EPC) contract with Belectric to construct and commissiontwo solar farms, recently acquired from solar developer JBM, in Warwickshire and Hampshire. The projects include an option to develop 65MW of co-located batteries.
The projects – Bunkers Hill and Eastfields – total 102MW. The acquisition brings Vantage RE’s solar portfolio to 467MW and marks the broadening of its activities into project development. Vantage RE is owned by Tenaga Nasional Berhad (TNB), a Malaysian utility with a presence in the UK, Kuwait, Turkey, Saudi Arabia and India.
Charmaine Chin, Director (Business Development) at Vantage RE, said: “We’re excited to announce our partnership with Belectric, one of the most experienced solar EPC contractors in Europe.”
Construction is expected to start next year, and both solar farms could achieve commercial operation in early 2024. They have 15-year contracts for difference (CfDs) awarded in July 2022.
Vian Davys, CEO at Vantage RE, added: “This opportunity marks a significant milestone for Vantage RE as we evolve our business model from acquiring operational renewable energy assets to developing our own. This shift is part of our longer term environmental, social and governance (ESG) plans and we’re making great progress on these ambitions. Providing clean, secure and affordable energy is more critical than ever. But we’re also developing TNB’s in-house capabilities, strengthening technology, experience and skills, in line with our aspiration to be a leading global sustainable energy provider.” In future, Vantage RE aims to expand its renewable energy portfolio into Europe.