Camblesforth Solar Farm Reaches Financial Close

Enray Power Ltd is pleased to announce achieving financial close in relation to its Camblesforth Solar Farm project, with all main project finance, construction, procurement and offtake agreements being executed. Enray, backed by Omnes since 2023, is pursuing an IPP strategy in the UK and this project marks an important step in the transformation of the company with a first co-located BESS and PV asset in construction.

The project is located near Selby, North Yorkshire and will provide green energy to 22,800 UK homes whilst offsetting 17,500t of CO2 each year.

Additionally, the project will provide over 16% in biodiversity net gain to create and preserve habitats in the local area and create a community benefit fund to enhance amenities for the local community.

Enray Power has partnered with industry leading financial advisors, Akereos Capital who have provided debt advisory and structuring services and are the bookrunners of the project. In addition, Akereos was responsible for arranging the project’s PPA and BESS optimisation agreements with a leading multinational organisation.

Senior debt financing has been agreed with Rabobank, an international cooperative bank with a strong focus on financing the shift to renewable energy. The agreement draws upon multiple facilities and will enable the delivery of the project in totality, without 3rd party investment.

Legal advisory has been provided to Enray by independent UK law firm Burges Salmon LLP, whose Energy and Banking & Finance teams have contributed across the transaction.

Market analytics was provided by Aurora Energy Research, utilising their Chronos platform to optimise the BESS integration.