TNB subsidiary to develop 102MW solar projects in the UK
The projects are expected to operate by Q1 2024.
Vantage RE, a wholly-owned subsidiary of Tenaga Nasional Berhad (TNB), has signed an engineering, procurement, and construction contract with BELECTRIC GmbH to develop 102-megawatt solar farms in the United Kingdom.
In a statement in December, TNB said the solar farms which will be built on two sites are expected to start operations by the first quarter of 2024.
The farms will also provide revenues under a 15-year Contract–for Difference subsidy scheme awarded in July 2022, TNB said.
Once operational, the projects will generate clean energy that can supply the annual needs of over 37,000 homes and abate over 46,750 tonnes of carbon dioxide compared to fossil fuel generation.
TNB added the project provides an option to develop a 65MW co-located battery energy storage system.
TNB President and CEO Dato’ Indera Ir. Baharin Din said the project will bring its capacity in the UK to 632MW which is 61% higher since the launch of Vantage RE in July 2021.
The earnings before interest, taxes, depreciation and amortisation contribution from the company’s UK portfolio has jumped 31.7% year-on-year to £55.6m for the third quarter of 2022 year-to-date, he said.