Elgin lines up £400m for 230MW of UK solar across four counties before Budget

Four of five schemes due for investment decision by end of 2026

Four of the five solar projects in Elgin's £400 million UK programme are expected to reach final investment decision by the end of 2026, with the remaining scheme following by the end of Q1 2027, the company has confirmed. Once final investment decisions are secured, the projects move a significant step closer to construction and to eventually supplying renewable power to the UK grid. The portfolio, totalling 230MW, spans Suffolk in the East of England, Buckinghamshire in the South East, Leicestershire in the East Midlands and Staffordshire in the West Midlands. The sites will form part of Elgin's expanding portfolio of solar and energy storage projects.

A defined slice of the 2030 solar goal

According to Elgin, the five projects together equate to around 0.5% of the solar capacity the UK Government wants installed by 2030. The Government's Clean Power Action Plan sets an ambition of between 45GW and 47GW of solar capacity by that date, a target the company describes the new portfolio as a tangible contribution towards. The announcement was made on the eve of the UK Budget, at a time when attracting private investment into energy infrastructure is central to the country's plans for growth and greater energy security. Elgin argues that investment in significant renewable projects is becoming increasingly important as the UK seeks to produce more of its own power and reduce exposure to rising costs, inflation and volatile international energy markets.

Jobs during construction and beyond

The schemes are expected to support employment during construction and create longer-term opportunities in operations and maintenance, according to the company. Opportunities are also anticipated for local contractors and suppliers across civil engineering, electrical installation, site management and environmental services. Dermot Kelleher, Chief Executive of Elgin, said the UK remains one of the company's most important markets and that the investment reflects confidence in its long-term future. He described the five projects as a major commitment that will help turn the country's renewable energy ambitions into reality. "Ahead of the Budget, the priority for our industry is a stable operating environment that gives investors' confidence to commit capital for the long term," Kelleher said. "Renewable energy is considerably cheaper than the alternatives and with improvements to grid access and planning processes, can be delivered more quickly - supporting economic growth, strengthening energy security and delivering more homegrown power." Kelleher added that investment on this scale will support skilled work during construction as well as longer-term roles in operating and maintaining renewable energy infrastructure.

Copenhagen Infrastructure Partners reiterates UK commitment

Elgin's backer, Copenhagen Infrastructure Partners, acquired a majority stake in the company in 2024 and supports its long-term growth ambition. Nischal Agarwal, Partner at CIP, said the firm's investment in Elgin rests on confidence in the strength of its team, its pipeline and its proven capability to deliver industry-leading renewable energy projects. "Solar energy is one of the UK's most cost-effective technologies for generating electricity, and we look forward to Elgin taking these five projects, totalling 230 MW, through construction and into operations to support the UK's wider ambitions to build a more resilient, more secure energy system," Agarwal said. Agarwal added that CIP looks forward to enabling a bigger pipeline of final investment decisions next year and remains fully committed to investing long-term capital in the UK's energy infrastructure.

The developer behind the programme

Elgin is a fully integrated, utility-scale solar and storage Independent Power Producer that develops, builds, owns and operates renewable energy assets across the UK, Ireland and Italy. The company manages assets across the full value chain, from origination and development through construction, energisation and into long-term optimisation. Founded in 2009, it employs 130 professionals in offices in Dublin, London, Rome and beyond, and has a 10GW+ pipeline of solar and battery storage projects. Elgin has delivered over 1GW of ready-to-build projects, with more than 300MW currently under construction across the UK and Ireland. CIP was founded in 2012 and is a global fund manager and leading investor in energy infrastructure. Through its funds it invests in power generation including solar and wind, energy storage, transmission and distribution, advanced bioenergy, low-carbon fuels and carbon capture. The firm currently manages 15 funds, has raised approximately EUR 43 billion to date and is trusted by over 200 of the world's largest institutions, with projects in more than 30 countries and a network of more than 2,300 professionals.

A countdown to the Budget statement

With the Budget due the following day, the timing of the announcement underlines the sector's focus on the policy environment. Elgin's chief executive framed the commitment within a broader industry call for stability, arguing that a predictable operating environment is what gives investors the confidence to commit capital over the long term. The defined timeline set out by the company — four final investment decisions by the end of 2026, all five by the end of Q1 2027 — charts a course for the 230MW portfolio to move from development towards construction and, ultimately, renewable power delivery to the UK grid.