Elgin has announced plans to invest nearly £400 million across five UK solar and storage projects totalling 230MW, a commitment that matters to developers, lenders and suppliers because four of the five are expected to reach final investment decision by the end of 2026 and all five by the end of the first quarter of 2027. The investment covers development, construction and a 40-year operating life, with capital expenditure estimated at about £175 million.

Elgin is a Dublin-headquartered solar and storage developer with a UK development pipeline of more than 10GW, more than 1GW of ready-to-build projects delivered and over 300MW under construction across the UK and Ireland.

The projects are in Suffolk, Buckinghamshire, Leicestershire and Staffordshire, and together equal about 0.5% of the 45GW to 47GW of solar capacity the UK Government wants installed by 2030 under its Clean Power Action Plan.

Dermot Kelleher, chief executive of Elgin, said: “The UK remains one of Elgin’s most important markets and this investment reflects our confidence in its long-term future. These five projects represent a major commitment and will help turn the country’s renewable energy ambitions into reality.”

Elgin has separately secured 382MW across eight contracts in the UK’s Allocation Round 7 CfD auction, adding to 164MW in AR6 and 130MW in AR5, according to New Power.

Three earlier projects totalling 112.6MW began construction in June 2026 and will be built through 2026 and 2027.

It also secured up to £500 million of funding from five banks this year to fund its UK pipeline.

Solar Power Portal reported that Elgin also acquired a 200MW solar project in Ireland, with about €200 million planned, and a 40MWp project there.

The Energyst reported that the announcement came on the eve of the UK Budget.

Dermot Kelleher said in August that moving from developing projects to owning and running them depended on backing from investors, lenders and partners, according to The Irish Times.

For the sector, a developer holding projects through a 40-year life rather than selling at consent shows the owner-operator model extending across UK solar and storage, with FID dates now defining the next procurement window.

Source: Renewables Now / Solar Power Portal / The Energyst / New Power / The Irish Times