Elgin, a leading solar and energy storage company, has announced the successful acquisition of a substantial portfolio of solar and battery storage projects in the UK, marking a significant milestone in its ambitious expansion plans.
The company has acquired a 318-megawatt (MW) portfolio spanning six sites across the UK from a fund managed by Foresight Group. As a co-shareholder in the early development phase, Foresight played a key role in advancing the projects to their current stage. These six sites will now be integrated into Elgin’s UK build-out programme, with construction on several projects set to begin in the first half of 2025.
Notably, four of the projects—amounting to 164 MW—secured contracts in the UK’s latest Contracts for Difference (CfD) Allocation Round 6 (AR6), providing long-term price stability and reinforcing their alignment with national renewable energy goals.
This acquisition follows Elgin March 2024 investment from Copenhagen Infrastructure Partners (CIP) and marks the company’s first major transaction since forming this strategic partnership. It also signifies Elgin’s evolution into an independent power producer (IPP), enhancing its presence in the UK market and beyond.
Ronan Kilduff, CEO of Elgin, stated that the acquisition of this portfolio represents a significant milestone for the company as it strengthens its position as an independent power producer. He emphasized that these projects reflect Elgin’s commitment to providing high-quality renewable energy solutions that support the UK’s net-zero targets. Kilduff also expressed anticipation for the successful development of these projects and the company’s contribution to the country’s energy transition.
Anouska Morjaria, Associate Investment Director at Foresight, highlighted the successful sale of the solar and storage portfolio to Elgin, following their co-development since 2020. She emphasized that the transaction reflects Foresight’s commitment to sustainable energy solutions and expressed confidence in the projects’ contribution to the UK’s energy transition. Morjaria also reaffirmed Foresight’s ongoing support for renewable energy development across the UK, Europe, and Australia.
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