ISG Renewables, a partnership between Innova Renewables and Greencoat UK Solar, has acquired the 29MWp Newbold Pacey Solar Farm near Wellesbourne, England. The project was part of Innova’s current pipeline of renewable energy developments.
ISG Renewables Keeps Acquiring Solar Farms
The Newbold Pacey Solar Farm in Warwickshire, previously known as Elms Farm Solar Park, is set to become operational later this year. Innova is managing the project’s development and construction, and will also implement a tailored biodiversity strategy to create or enhance local habitats.
This acquisition supports ISG’s ambition to develop, finance, and operate 5GW of renewable energy capacity within the next three to five years. The joint venture’s solar and storage pipeline currently comprises 1.5GW of capacity.
This marks ISG’s third acquisition, following Carn Nicholas Solar Park, a 10MWp solar farm in Wales, in April 2023. The second was Bicker Fen (formerly Manor Farm Solar Park), a 22.6MWp solar farm in Lincolnshire, acquired in September 2023 and operational since March 2024.
In 2023, Innova also received approval from Nuneaton and Bedworth Borough Council for a 25MWp agricultural solar farm northeast of Coventry. The array’s design incorporates a tailored biodiversity strategy, enhancing habitats for local wildlife and native species.
Towards UK’s Goal of Net Zero Emissions
Hassan Bashir, an investment manager at Innova, said the acquisition of Newbold Pacey solidifies their strategic partnership with Schroders Greencoat and strongly supports their mutual objective of advancing the UK’s transition to net zero emissions.
“We are pleased to announce the sale of our third project to Schroders Greencoat and ISG Renewables, our joint venture,” remarked Bashir.
He also thanked Innova’s legal advisors, TLT LLP and Morgan LaRoche, for their support during the sales process.
Matt Tingle, investment director at Schroders Greencoat, noted that acquiring the 27.8MWp Newbold Pacey solar farm advances the joint venture’s objective of executing its development pipeline of new solar projects throughout the UK.
Tingle added that they are eager to invest further in similar projects with Innova to bolster UK energy security and support net zero commitments. “We anticipate that the location will produce consistent electricity for the nearby grid, which will provide investors with consistent cash flows,” he said.
Innova’s Previous Solar Projects
Innova continues to expand its utility-scale solar farms across the UK. As Solar Power Portal detailed in February, Innova secured planning permission for three solar projects totalling 61.5MW in East Suffolk, Essex, and Scotland.
These projects are the Bucklesham Solar Park (25MW) in East Suffolk, the Parkgate Farm Solar Park (22.5MW) in Essex, and the Parkhill South Solar Farm (14MW) in Scotland.
Bucklesham Solar Park received planning consent on 28 November 2023 and includes plans for a significant increase in biodiversity, enhancing habitat units and hedgerows. Following an appeal hearing on 12 December, Parkgate Farm Solar Park secured planning permission on 15 December 2023.
Innova’s third approved project, Parkhill South Solar Farm, is located north of Arbroath and east of Letham Grange and marks the company’s first approval in Scotland. It is also set to deliver a substantial biodiversity net gain for habitats and hedgerows.
ISG Renewables’ acquisition of the Newbold Pacey Solar Farm — alongside Innova’s ongoing development efforts — accelerates the UK’s transition to net zero emissions while bolstering renewable energy infrastructure and biodiversity conservation.