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Anesco Plans 50 Megawatts of U.K. Solar Plants, CEO Says

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May 21 (Bloomberg) -- Anesco Ltd., a U.K. developer of renewable energy projects, plans to help build about 50 megawatts of large-scale solar parks in Britain, its chief executive officer said.

The company, which is backed by the utility SSE Plc and private equity firm Zouk Capital LLP, seeks to develop 25 megawatts on its own and is in talks to build another 25 megawatts with partners using either tariffs or green certificates, Chief Executive Officer Adrian Pike said by e-mail. It is already building a 5-megawatt solar park, he said.

U.K. energy-efficiency companies such as Anesco are planning large solar parks again, aided by panel prices that have dropped almost 50 percent in a year. No new U.K. megawatt-scale plants have been completed since feed-in tariffs, or fixed premiums for solar power, were cut in August.

The company, based in Reading, will build the projects using either the tariffs or renewable obligation certificates. Current support levels for solar are “correct” and the company will use a combination of both incentives, depending on how tariffs are changed and the forward-pricing of the certificates, according to the chief executive.

“Generally the plants now need a good power purchase agreement as well as the incentive schemes,” Pike said. “I think the balance is now right.”

Anesco started building a 5-megawatt solar plant at a farm in Fawley near Southampton last week and plans to complete it within eight weeks. The plant’s final asset value will be about 7.5 million pounds, including the 25-year land lease, Pike said.

To contact the reporter on this story: Marc Roca in London at mroca6@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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