Aura Power lands £33.1 million finance for 40MW solar project
Publish Time：2025-02-15
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A map of the upcoming development. Image: Aura Power
Renewable energy developer Aura Power has reached financial close on the Burtree Lane solar project thanks to a deal with Rabobank.
The Bristol-based developer has secured a £33.1 million finance package from Rabobank in order to develop the 40MW Burtree Lane solar PV power plant, located in Darlington, y Durham.
The Burtree Lane project was granted planning permission in November 2022, and is expected to begin construction this summer. As well as the clean energy generated by the installation, the project will deliver a 46% biodiversity net gain in the area through measures such as hedgerow planting, and a £20,000 per year community benefit fund will be established.
This is the second project in Aura Power’s over 400MW ready-to-build solar portfolio that has been financed through Rabobank. In October 2024, Aura Power secured a £44 million project financing debt facility through Rabobank to construct the 49.9MW Kemble Solar Farm, located near Cirencester, Gloucestershire. In 2023, Kemble Solar Farm successfully secured a contract through the UK government’s Contracts for Difference (CfD) Allocation Round 5 (AR5). Construction on the Kemble Solar Farm is expected to begin early this year, with extensive preparatory works already having been completed.
Ben Moore, director at Aura Power, said: “Reaching financial close on Burtree Lane is a fantastic next step for us in developing our operational UK solar portfolio. We are looking forward to breaking ground in the summer and energising early next year.”
Paul Graafland, associate director at Rabobank, added, “We are thrilled to partner with Aura Power on the Burtree Lane Solar PV project and, in turn, aid in their broader goal of developing a 400MWp UK Solar Portfolio. This financing underscores Rabobank’s cooperative commitment to financing the energy transition and supporting sustainable energy solutions.”
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