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illuminem summarises for you the essential news of the day. Read the full piece on Solar Power Portal or enjoy below:
🗞️ Driving the news: British Solar Renewables (BSR) has secured a £345 million debt facility for 12 solar and solar-battery storage projects totalling 609MW
• These projects are set to generate 600GWh of clean electricity annually, advancing the UK's goals towards net-zero emissions by 2050 and strengthening its energy security
🔭 The context: This financing round, backed by major banks including Lloyds and the Commonwealth Bank of Australia, marks a significant milestone in BSR's strategy to combine solar energy with battery storage
• The firm is on track to develop 7,000MW of renewable capacity by 2027
• Along with this, BSR is pushing forward other developments, such as the proposed 15MW Harp Farm Solar Park and the 49.9MW Hooton Pagnell Renewable Park
🌍 Why it matters for the planet: The expansion of solar and battery storage systems is crucial for achieving a clean energy transition
• These investments help decarbonize the grid while addressing energy security concerns, especially as renewable energy integration grows
• By combining solar power with storage, BSR is helping smooth out the intermittency of renewables, enabling more consistent power supply
⏭️ What's next: BSR's successful financing strengthens its position in the renewable sector as it moves ahead with its ambitious growth plans
• The company’s upcoming projects and its focus on co-located solar and storage systems could serve as a model for further clean energy innovations across the UK
💬 One quote: “This financing highlights the strength of BSR’s co-location strategy,” — Michael Ozersky, Chief Investment Officer of BSR
📈 One stat: Once operational, the 12 projects will generate 600GWh of clean electricity annually, equivalent to powering around 200,000 UK households
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