The water sector in England has made a public commitment to be carbon net zero by 2030.
Newbridge Advisors, as strategic, commercial and financial advisor, worked with Yorkshire Water to establish a solar framework of experienced developers / investors which will help Yorkshire Water achieve its 2030 goal.
Newbridge also advised Yorkshire Water prior to the award of the first phase under the framework – an agreement with one of the framework partners to design, build, finance and operate approximately 23MW of solar assets and sell power directly to Yorkshire Water.
Speaking after the award of the first phase, Daniel Oxley, Yorkshire Water commercial programme manager, said: “This project is a significant step in reaching our aims of carbon net zero by 2030. Due to changes in the treatment process at our sites over recent years, many have been left with surplus operational land which can be used for the generation of renewable energy.”
“These have been identified and will become home to new solar panel arrays. Once completed, the first deployment of solar panels will generate 4% of our annual power needs, increasing our renewable energy use, reducing our exposure to energy price volatility and reducing the operational costs of our sites, which will provide better value for money for our customers.”
Paul Woodcock, Partner at Newbridge Advisors said “We are delighted to have supported Yorkshire Water in finding experienced partners who will support and deliver Yorkshire Water’s solar ambitions.”
“Newbridge was ideally placed to support Yorkshire Water: the team’s private wire renewables experience and in-depth knowledge of the underling investor base, combined with our experience of achieving best value, meant Yorkshire Water were confident they were running a highly competitive process that was focused on delivery as well as pricing.”