Project financing has been secured by Aura Power for a solar power project in the UK. Named Grimsby, the solar farm is planned to have a generation capacity of 50MW.
The Grimsby project in North East Lincolnshire is Aura Power's third UK solar initiative, followed by the successful financing of the Kemble and Burtree solar power projects. Combined, the three facilities will bring the company's solar generation capacity to 190MWp.
Grimsby has been successful in the Contracts for Difference (CfD) award in the latest Allocation Round 5 (AR5). Rabobank, which also financed Kemble and Burtree Lane, is the project's senior debt.
Aura Power expects to start construction by 2028.
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