London listed company VH Global Sustainable Energy Opportunities has now made an official agreement to acquire three different solar sites based in Australia for £21 million. As per the new deal, the UK-based investment company advised it will acquire and construct three solar sites with full permits as part of the pre-existing £50 million commitment to its current Australian solar Photovoltaic and storage investment initiative.
From individual consumers to companies, those in the UK seeking to purchase green assets abroad like those involving renewable energy, often seek out investment advice in Chester, London and other financial hubs. Wealth managers help their clients who are looking to adopt an ethical approach to investing. To this end, they can construct portfolios that include only ESG (environmental, social, governance) investments that suit their client’s attitude to responsibility and risk.
The Australian Energy Transition Programme was first announced back in August 2021, with Birdwood Energy as operating partner. Phase one was announced later that year and consisted of two separate operating solar photovoltaic sites being acquired, with a total 17MW capacity.
Phase two, which involves the construction of dedicated battery storage systems and has now begun on one of these sites. The batteries are designed to enable greater optionality with an aim to manage price movements and earn revenues providing support to the local grid.
The construction of the three solar sites will take place in the state of New South Wales and is expected to start in 2022’s third quarter. Completion and commissioning are expected in 2023’s second quarter.
