Innova is understood to have reached financial close on a predominantly development-stage financing deal with lender Triple Point, with the facility potentially being used for a combined solar and storage pipeline of up to circa 1 GW in total.

The deal, which closed earlier in June, is believed to currently involve nearly 30 projects in the developer’s pipeline, ranging from pre-planning assets right through to near-ready-to-build CfD-backed sites.

Projects in the portfolio being financed at this stage are understood to include the 150 MW Roddington solar and BESS in Shropshire, 50 MW Desborough solar, 49.9 MW Lower Farm solar in Staffordshire, 49.9 MW Gleaston in Cumbria, 49.9 MW Low Fen Drove in Cambridgeshire, 40 MW Frocester in Gloucestershire, 30 MW Stanton under Bardon in Leicestershire, 28 MW Oaks Farm in Buckinghamshire, and 28 MW Blythe House in Staffordshire, among many others.

Three solar projects – the 25 MW Preston Farm, 21.8 MW Bedworth and the 18 MW Park Hill Extension – were among successful bids in the UK’s CfD allocation round six in 2024, securing tariffs of GBP 50.07 per MWh (in 2012 prices).

Projects in the pipeline include assets in public consultation, pre-planning, in-planning, consented and pre-construction, with scheduled grid dates ranging from later in 2025 up to the early 2030s, although the latter will likely change following the ongoing GB grid reform.

The financing will likely echo many of the factors present in Triple Point’s recent development-stage financing transaction with Noriker Power, which closed in April 2025 and was sized at GBP 15m.

Such deals typically produce all-in pricing of high-single-digits or very low-double-digit percentages, according to market sources.

Triple Point is understood to have conducted the deal via its Secured Fixed Income Plc platform, which is set up to provide financing options for SMEs.

Innova previously tapped the lender in late 2023 for a GBP 40m debt package.

Both parties were contacted for comment.

*This story was originally published exclusively for NPM Europe subscribers.