Santander provides GBP25mn to 49.9 MW solar PV project in Dorset

Santander UK has announced GBP25 million (US$31.11 million) funding in Voltalia's 49.9 MW South Farm solar photovoltaic project in the UK that will generate more than half of the City of London Corporation's electricity. The ground-mounted solar farm located near Spetisbury, Dorset has been fully developed and maintained by Voltalia.

South Farm's completion has been certified with a grid connection and has been actively providing the City Corporation with electricity since January. As part of the investment, the bank's funding package will include Consumer Price Index hedging, providing more certainty over the amount of revenue generated by the solar farm over the next 15 years.

The funding is a significant move by Santander UK towards supporting renewable energy generation assets that do not rely on government subsidies.