Conergy and Solarcentury both announce major new projects are nearing completion
Solarcentury has this week announced that it is on track to complete up to 70MW of new solar farm capacity by the end of the month, ahead of imminent cuts to the level of support available to solar installations with more than 5MW of capacity.
Late last year the government confirmed the level of subsidy available for ground-mounted solar farms would be cut from two tradable renewable obligation certificates (ROCs) per MWh to 1.6ROCS/MWh, with the changes due to come into effect from 1 April.
The changes represent a compromise with the industry, and experts said well-located solar farms would remain economically viable following the cuts. However, significantly higher returns are on offer for projects that come online before the end of the month and developers are now rushing to take advantage of the 2ROC support level.
“Developers and investors in solar farms are looking for bankable technology and Conergy delivers for them with reliable modules and years of build experience,” said Robert Goss, managing director of Conergy UK, in a statement.
“Solar farms, located in the right places, are a quick way of efficiently contributing to the UK energy mix, reducing the pressure from rising gas prices and the cost and time required to build new gas or nuclear plants.”
Read more at Flurry of new solar farms rush to beat cuts deadline