UNITED KINGDOM: Boom Power to bring NSIP solar project to market in 4Q24

Boom Power is gearing up to launch the sale of its 400 MW East Yorkshire solar farm before the end of the year, it is understood.

The Arundel-headquartered developer is being advised by Akereos Capital on the transaction and will begin to approach the market over the coming weeks in a bid to secure an investor for the project.

Boom is keen to put in place an equity funder for the scheme in advance of a development consent order (DCO) decision, expected in Q1 2024, under the UK Planning Inspectorate’s Nationally Significant Infrastructure Projects framework for larger renewables developments.

The achievement of a positive DCO will be made a condition of the conclusion of the sale, but the seller is keen to get an investor lined up early due to the scale of the solar farm and its requisite funding and supply chain requirements.

However, Boom is also aiming to retain construction management and long-term O&M duties on the East Yorkshire project.

Elsewhere, the developer is also understood to be in the process of offloading the bulk of its consented 49.9 MW Low Farm solar site in West Yorkshire to another unnamed investor, while maintaining at least a minority stake.

Beyond these two deals, Boom is believed to be aiming to pursue a corporate-level equity transaction, potentially as a follow-on with the same investor in one of its project, although precise details of the transaction are yet to be finalised.

Boom Power was contacted for comment.

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