German utility company RWE has announced it is planning a 37 megawatt (MW) solar park in Britain.
RWE said the facility would expand its presence in renewable energy, which some analysts said had been neglected by the group.
The Kencot Hill Solar Firm, located on a disused airfield in Oxfordshire, is expected to come online late in the northern summer of this year and will provide electricity to about 10,000 households, RWE said.
Reuters Newsagency reports RWE, which will provide financing and technical support, has appointed solar group Conergy to build the park.
Once completed, the park will sold to Foresight Solar Fund, managed by United Kingdom-based infrastructure asset manager Foresight Group.
“Utilising our project development, procurement and structuring skills, including expertise from RWE Innogy, we will deliver to Foresight a substantial, fully commissioned and ROC accredited solar PV park,” said Stefan Judisch, head of RWE Supply and Trading.
Reuters reports no financial details were disclosed.
Renewables accounted for just three per cent of RWE’s profits last year, with chief executive Peter Terium admitting last month the company was too late in entering the business.
Mr Terium also acknowledged that solar generation had fundamentally changed the utility sector.
Reuters reports that facing plunging profits, utilities including RWE and larger peer E.ON are now trying to expand their renewable portfolios, a challenging task since wind and solar power still need subsidies to be competitive.