Aura Power secures solar project financing

Aura Power now has 360 MWp in construction. Kemble Solar Farm was the company’s first project to be built and recently achieved energisation.

The milestone reinforces Aura’s long-term commitment to strengthening domestic energy security, accelerating decarbonisation, and supporting resilient local communities.

The announcement comes at a time of continued uncertainty in global energy markets, with ongoing geopolitical instability increasing gas price volatility across Europe. Against this backdrop, the rapid deployment of domestic renewable generation is critical to improving energy independence, stabilising long-term electricity prices, and reducing exposure to expensive imported fossil fuels.

British solar has already set a number of records this year and this week we saw nearly 50% of UK electricity coming from solar during the day, compared to just 7% from gas.

Simon Coulson, CEO of Aura Power, said: “The successful financing of Preston Hill represents another major milestone for our business and demonstrates continued confidence in both our strategy and delivery capability. Reaching our sixth financed project is a significant achievement and reflects the hard work of our team and partners across the portfolio.

“As the UK continues to navigate energy security concerns and increasing volatility in international gas markets, the need for new domestic renewable energy infra-structure has never been clearer. Projects like Preston Hill will help deliver clean, secure and affordable electricity for decades to come.

“Our focus remains on delivering these projects efficiently and considerately whilst supporting local communities.”

Senior debt financing has once again been provided by Rabobank, which has partnered with Aura Power on all of its UK construction projects to-date. Aura Power was supported by Burges Salmon’s Banking and Finance team.

Jesse Leeuwendal, Executive director at Rabobank, added: “We are pleased to support Aura Power on the financing of Preston Hill solar farm, marking another important milestone in the delivery of its UK portfolio. This transaction highlights the strength of our partnership and our continued commitment to financing projects that enhance energy resilience and support the transition to a low carbon economy.”

Construction at Preston Hill solar farm is expected to commence later this year. Local residents will be notified in advance and invited to meet with the project team.

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