May 2, 2025
Voltalia obtains funding for a solar project in the UK.
Voltalia has secured a £20 million financing package to develop a 34MW solar project near Scarborough, North Yorkshire.
This package includes a construction and long-term operating loan of up to £18.9 million from Triodos Bank UK, along with a €1.1 million debt service reserve facility.
Construction is in progress and the plant is expected to be operational by the end of 2025. The Eastgate Solar project will include 62,500 solar panels. It has a 15-year corporate power purchase agreement with The Co-operative Group, providing 7.5% of the Co-op's electricity needs for its food stores, distribution centres, and funeral care homes throughout the UK.
Yoni Ammar, deputy CEO of Voltalia, stated that this investment underscores their commitment to enhancing their renewable energy presence and contributing to a sustainable energy future in the UK. Triodos Bank UK, with extensive experience in renewable energy financing, supports Voltalia's plans for expanding its renewable capacity.
Chris Cullen, a senior relationship manager at Triodos Bank UK, expressed support for collaborative efforts to promote renewable energy and foster a stable market for sustainable projects.
This package includes a construction and long-term operating loan of up to £18.9 million from Triodos Bank UK, along with a €1.1 million debt service reserve facility.
Construction is in progress and the plant is expected to be operational by the end of 2025. The Eastgate Solar project will include 62,500 solar panels. It has a 15-year corporate power purchase agreement with The Co-operative Group, providing 7.5% of the Co-op's electricity needs for its food stores, distribution centres, and funeral care homes throughout the UK.
Yoni Ammar, deputy CEO of Voltalia, stated that this investment underscores their commitment to enhancing their renewable energy presence and contributing to a sustainable energy future in the UK. Triodos Bank UK, with extensive experience in renewable energy financing, supports Voltalia's plans for expanding its renewable capacity.
Chris Cullen, a senior relationship manager at Triodos Bank UK, expressed support for collaborative efforts to promote renewable energy and foster a stable market for sustainable projects.