Enviromena, the UK-based independent power producer, has secured construction financing from Close Brothers’ Energy team to support the delivery of the Steeraway Solar Farm in Shropshire.
The agreement represents the latest milestone in the ongoing partnership between Enviromena and Close Brothers and will enable construction to begin later this year on the fully consented 30MW (AC) project.
Once operational, Steeraway will generate enough clean electricity to power more than 15,000 homes each year and avoid over 8,000 tonnes of carbon emissions annually. The site received planning approval in May 2023, with grid connection targeted for late 2026.
As part of the approved plans, the solar farm will also deliver environmental enhancements including biodiversity improvements, sensitive landscape planting and the continuation of agricultural grazing, ensuring the project integrates with and supports the surrounding countryside.
In September 2024, the site was awarded a government-backed Contract for Difference (CfD) in allocation round 6, which provides an indexed-linked revenue stream for 15 years.
Enviromena CEO Chris Marsh said: “Achieving financial close on Steeraway marks another significant step in our mission to expand our UK solar portfolio and accelerate the transition to a low-carbon energy system.
“Our continued collaboration with Close Brothers’ Energy team allows us to bring forward high-quality, strategically important renewable projects that deliver both environmental and community benefits.”
Richie Kidd, Head of Deal Execution for the Energy team at Close Brothers, commented: “Partnering once again with Enviromena on the Steeraway Solar Farm reinforces our commitment to supporting the deployment of clean energy infrastructure across the UK.
“We are pleased to help enable the delivery of another impactful project and look forward to celebrating further milestones together.”
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