Brookfield-owned OnPath Energy reaches financial close on first solar-plus-storage project

UK renewables developer OnPath Energy (formerly Banks Renewables, backed by Brookfield Asset Management) has achieved financial close on its Common Farm Solar Park, marking the company's first co-located solar and battery energy storage system (BESS) project.

Located in South Yorkshire near Dinnington, the project combines solar generation with localized storage to improve UK grid efficiency and stability.

1. Project Scale and Financial Structure

• Asset Capacity: The facility combines a 49 MW solar array paired with a 50 MW / 2-hour (100 MWh) Battery Energy Storage System (BESS).

• Debt Financing: The bilateral financing package was provided by NatWest, featuring a term loan and ancillary facilities to cover construction and operational phases.

• Commercial Route to Market: The solar asset is backed by a corporate Power Purchase Agreement (PPA) with a global technology firm, while the BESS will operate under a third-party optimization agreement to trade power and deliver dynamic grid-balancing services.

2. Benefits of Co-Location

• Optimized Grid Connection: Integrating solar and storage at a single interconnection point maximizes usage of the local substation connection near Todwick Road Industrial Estate.

• Clean Power Output: Once operational in mid-2027, the site will generate enough clean electricity to meet the annual electricity needs of approximately 18,800 UK homes.

• Energy Security: Stored solar generation will offset fossil fuel peaker plant dependency during evening grid demand spikes.