The L&G NTR Clean Power (asset and renewable energy management Europe) Fund III has secured a transaction for Fair Oaks Renewable Energy Park, a ready-to-build solar photovoltaic and battery energy storage project in Nottinghamshire, England, developed by Ridge Clean Energy Ltd (renewable energy developer). The deal was announced on 24 April 2026 and marks the fund's second investment in the United Kingdom.

Project Specifications and Timeline

Fair Oaks Renewable Energy Park comprises 75.4 megawatts peak of solar PV alongside a 49.9 megawatt, 99.8 megawatt-hour battery energy storage system.

The hybrid configuration is designed to optimize available grid capacity by capturing and storing excess energy until it is required, while also providing critical grid services.

The project already has a grid connection offer and planning consent in place, and has secured a Contract for Difference, which provides long-term revenue certainty for the asset. Construction is expected to commence in 2026, with a targeted commercial operations date of early 2028.

The transaction was completed by NTR on behalf of the fund. Ridge Clean Energy will collaborate with the fund to deliver the project through its next phase and will continue to support the local community throughout the process.

Structure of the Fund and the Partnership

The L&G NTR Clean Power (Europe) Fund III is a joint partnership between NTR, described as a leading renewable energy specialist, and Legal and General, a major European asset manager and global investor.

NTR was established in 1978 and has over 25 years of clean energy investment experience. The firm has developed, constructed, and operated more than four gigawatts of wind, solar, and energy storage projects across approximately 70 locations in seven European countries.

The acquisition of Fair Oaks follows the fund's existing offshore wind exposure in the UK and adds to what L&G describes as a diversified presence in the European market.

The transaction is characterized by both partners as supporting energy stability and security while delivering growth opportunities for long-term investors.

Executives Outline Investment Rationale

Anthony Doherty, Chief Investment Officer of NTR, said the asset was particularly attractive as a hybrid solar and battery energy storage system capable of playing a critical role in stabilizing the grid and accelerating the transition to reliable, clean energy.

Doherty noted that Ridge Clean Energy takes the same sustainable perspective as NTR in developing projects that support Europe's clean energy transition. Michael Barrie, Head of Real Estate and Infrastructure in Private Markets at L&G, said the acquisition continues the fund's work to support energy stability and security alongside delivering growth opportunities for long-term investors.

Barrie described Fair Oaks as adding to the fund's diversified presence in the European market following its existing UK offshore wind exposure.

Ridge Clean Energy's Role and Community Focus

Ridge Clean Energy developed Fair Oaks and will remain involved as the project moves into its next phase. Marjorie Neasham Glasgow, Chief Executive Officer of Ridge Clean Energy Ltd, said the project will create meaningful local benefits and help landowners make the most of their resources.

Neasham Glasgow pointed to the established reputations of both NTR and L&G for long-term commitment to the UK and for prioritizing local stakeholders. She said this approach aligns with Ridge's view that the government's 2030 energy goals are best achieved by delivering long-term value to local areas.

The announcement describes the start of a long-term collaboration between the fund and Ridge, continuing what is characterized as a community-led approach to development.

Advisers to the Transaction

Pinsent Masons (multinational law firm) acted as legal adviser to NTR on the transaction, with Natural Power (renewable energy consultancy) providing technical advice. PKF Francis Clark (an independent firm of chartered accountants and business advisers) and TLT (law firm) advised Ridge Clean Energy on the deal.

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