Financial close for 50 MW Solar PV Project in UK

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Financial close for 50 MW Solar PV Project in UK

Aura Power has announced that the 49.9 MW Grimsby Solar Project, located in North East Lincolnshire, UK, has reached financial Close.

The facility will feature a single-axis tracking system and carefully considered landscaping, delivering a 71% biodiversity net gain. Grimsby has secured a government-backed Contract for Difference (CfD), won through Allocation Round 5 (AR5). Early works on the new substation are already underway, with the main construction phase set to begin shortly. Rabobank is providing senior debt for this project.

The solar farm will also be contributing over GBP100,000 (US$135,539) in business rates to North East Lincolnshire council every year. Once operational, it could generate enough electricity to power the equivalent of up to 27,200 homes, saving around 25,100 tonnes of CO2 from entering the atmosphere each year.

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