The Ikigai Group has successfully supported Downing LLP in the highly competitive tender process to develop, design, build, and operate a portfolio of 28 solar sites across Yorkshire Water sites.
The solar projects, an investment worth around £25 million, will have a total capacity of approximately 21MW. This represents Downing’s second successful tender award from a national utility company, having won Northumbrian Water’s solar tender.
The Ikigai Group acted as a strategic adviser and behind-the-meter co-development partner to Downing LLP throughout the tender process that began in 2020.
Yorkshire Water provides water and sewerage services to over 5 million people and 100,000 businesses in the Yorkshire region. The construction of the solar farms will contribute directly to Yorkshire Water’s 2030 net zero pledge, as all electricity consumed will be generated on-site by Yorkshire Water themselves.
Martin Clarke, Project Director, and Water Sector lead at Ikigai, agreed: “This project demonstrates how water companies can achieve the mutual objectives of decarbonization and better consumer value through externally financed onsite energy solutions. It has been a pleasure to work so closely and collaboratively with Yorkshire Water and one of the UK’s leading renewable investment managers, Downing. We look forward to delivering this highly ambitious and investable portfolio together.”
Sean Moore, Investment Director at Downing, commented: “We’re delighted to be partnering with Yorkshire Water for this solar project. By assisting a national utility company with its goal of reaching net zero, we are emphasizing Downing’s commitment to responsible investing. Downing is an investor committed to making investments that have a positive impact on communities and businesses around the UK – by joining forces with Yorkshire Water we underline this pledge once again.”
Yorkshire Water commercial program manager Daniel Oxley concluded: “This project is a significant step in reaching our aims of carbon net zero by 2030. Due to changes in the treatment process at our sites over recent years, many have been left with surplus operational land that can be used for the generation of renewable energy. These have been identified and will become home to new solar panel arrays. Once completed, the first deployment of solar panels will generate 4% of our annual power needs, increasing our renewable energy use, reducing our exposure to energy price volatility, and reducing the operational costs of our sites, which will provide better value for money for our customers.”
