M&A and Joint Ventures
M&A and Joint Ventures
finance
As a vertically integrated business, Innova represents a unique bridge between development and investment expertise in the renewable energy sector.
M&A activity
Innova has extensive M&A experience, with many of our team having previously worked at major City funds and advisors. We have acquired and sold numerous operational ground and roof mounted solar sites in the UK, as well as managing operational sites and portfolios on behalf of third parties from initial construction through to exit.
We are continuously seeking opportunities to acquire third-party renewable energy projects and work with developers, asset owners, and investors who are looking to buy pre-planning or ‘shovel ready’ assets.
In the spotlight: Innova Schroders Greencoat (ISG)
In April 2023, Innova and Greencoat UK Solar signed a strategic partnership, ISG Renewables to leverage their combined, proven experience and expertise, with the goal of financing and developing 5GW of renewable energy capacity over the next three to five years. The first two acquisitions of this partnership, Carn Nicholas Solar Park and Manor Farm are already delivering 32.6MW towards this goal.
Joint Ventures
Innova has strong working relationships with the development community across the renewable industry, and we are continuously seeking joint venture partnerships to expand new sites.
Our existing joint venture relationships cover:
Site development
Innova launched in 2014 as a renewable energy site developer, setting the foundation of experience and expertise on which we have built the vertically integrated business that it is today. Quality lies at the heart of every stage of our development process, ensuring the sites that we build, buy, and sell are optimised for high performance and longevity.
Investor Joint Ventures
Our track record for outstanding renewable developments has attracted notable investors to Innova, enabling us to buy partially or fully developed renewable energy sites to optimise with our expertise. Contemporaneously, we have sold selected sites which we have developed through our strategic partnerships, such as with Schroders Greencoat.
Landowner Joint Ventures
As well as traditional landlord and solar tenant relationships, we also work closely with landowners who have already started their own development project journey or obtained a grid connection offer and require an expert partner to complete and/or fund the development process. This allows landowners to leverage our experience and capital to realise their renewable energy project.
Grid connections
As a result of high costs and limited connectivity opportunities, securing a grid connection for a renewable development is becoming increasingly challenging. At Innova, we combine the know-how of our grid connection team with investment expertise and external partnerships to accelerate grid connection introductions for our sites.
In the spotlight: Innova and Triple Point
Innova has a long-standing relationship with purpose led investment manager Triple Point. Commencing in 2017 – when Triple Point provided debt funding for operational subsidised solar assets owned by Innova – this partnership has since grown to include a £5 million Development Facility with Triple Point Energy Transition plc (“TENT”) in March 2023, and a further development funding facility of up to £40 million in October 2023.
Considering a partnership with Innova?
Whether you’re a renewable energy investor, asset owner, or developer, we’re eager to hear from you. Simply get in touch with a member of our team today.
Innova Capital Limited is authorised and regulated by the Financial Conduct Authority.
Natural Capital and Biodiversity
Positively improving the environment is integral to our mission here at Innova.
Natural Capital
The earth provides a plethora of natural resources that not only support human life, but also regulate our climate and general environment.
As operators of renewable hubs, which are often greenfield sites, we feel passionate about natural capital – safeguarding local ecology, enhancing biodiversity, and protecting habitats.
We therefore work closely with communities where we operate, farmers, and other landowners to design and implement solutions that often go above and beyond our statutory requirements.
Each of our projects have detailed landscape management plans, with demonstrable actions that contribute to air and water quality, mitigate soil erosion, prevent flooding and control pests and invasive species.
We believe that with an investment in ecological enhancement benefits wildlife and communities, and will lead to wider support for future renewable hubs.
Biodiversity
Drawing from our approach to natural capital, we ensure that all our renewable developments deliver Biodiversity Net Gain as required by law. In agreement with landowners and local communities, we proactively find and realise opportunities to exceed those requirements wherever possible.
As part of our Green Commitment, we will continue to:
- identify and implement ways to optimise biodiversity net gain throughout the lifetime of a project;
- monitor, manage, and learn from our experiences;
- feed this learning back into our other projects and share it with others; and
- leave the environment in a better condition than we found it when the life of our projects comes to an end
Operations Management
Operations
Unparalleled expertise and processes
Asset Monitoring: Real-time insights for proactive management
Utilising a consolidated monitoring platform for near-real time string level monitoring, puts the Innova team into a position to react quickly to faults and ensure availability and performance ratio beyond guaranteed thresholds.
Our in-house technical capabilities and use of market-leading technology enable us to:
- quickly and efficiently identify and resolve complex performance issues
- implement data-driven performance optimisation at our current sites
- infuse our findings into the design and build optimisation of future sites
Asset Management: Ensuring compliance, performance optimisation, and detailed reporting
Our integrated technical asset management platform enables us to take an active approach to site management, including regular site visits, detailed overview of Equipment Hierarchy and Spare Parts, Warranty Management and detailed performance and incident reporting.
Asset Maintenance: Ensuring longevity, efficiency, and cost-effectiveness
In collaboration with top-tier contractors, engineers, and equipment providers, we implement a meticulously designed preventative maintenance strategy. Our approach offers:
- Optimised asset performance: Extend the lifespan and maximise the output of your investments.
- Reduced operational expenses: Our proactive measures minimise long-term costs, making your assets more profitable.
- Cost and time savings: Avoid the need for extensive repairs, saving both time and financial resources.
Strategic partnerships: Synergy for success
At Innova, we forge meaningful relationships with key stakeholders — ranging from contractors and equipment suppliers to DNOs, local planning authorities, landowners, and communities. Leveraging advanced management methodologies, we:
- Unlock portfolio synergies: Our integrated approach allows us to aggregate benefits across multiple assets, enhancing overall portfolio value.
- Maximise operational excellence: Through collaborative efforts and cutting-edge management techniques, we elevate the performance of each operational facet.
Build
Build
Ensuring quality throughout the process of every build
Pre-site survey and investigations
Our sites are carefully selected through a detailed assessment process, which considers factors such as grid availability, solar irradiance, access, landscape, agricultural quality, ecology, heritage, safety, and environmental designations.
Not only does this ensure that our sites can run at maximum efficiency on energisation whilst promoting biodiversity, but also means that there is minimal disruption to local communities during the build process.
Transforming designs into fully constructed assets
Partnered with leading construction suppliers and some of the most advanced technology and materials in the industry, our skilled and experienced delivery team take the designs created by Innova’s engineering specialists to carry out the construction process. This includes:
- compound and laydown works
- piling
- framework installation
- trenching
- cable laying
- module installation, and
- transformer and inverter installation
At each stage of this process, we undertake diligent construction monitoring and in-depth QA/QC processes to achieve outstanding results.
Energising, operating, and maintaining the site
Following energisation of the completed site, we carry out regular monitoring, management, and maintenance works with a view to optimising performance over the lifespan of the project.
Development
development
Our collaborative approach lies at the heart of Innova’s development success
1. Establishing grid capacity
Working closely with our industry partner Roadnight Taylor, we establish grid capacity, before submitting a grid application and accepting any subsequent offers from the relevant Distribution Network Operator (DNO).
At Innova, we have an 80% connection application success rate for high voltage and extra high voltage schemes compared industry average of less than 20%.
2. Finding, reviewing, and securing land
Reviewing all land within a suitable radius from the point of our established connection, we undertake a range of surveys to select land for development and consult landowners to ascertain their interest in hosting a development on their land.
Simultaneously, our planning specialists review the local planning authority planning policy and development plans and undertake a site visit to narrow down the most appropriate site.
3. Determining project feasibility
Once our development team have established whether any mitigation needs to be incorporated into the site design, we commission a wide range of surveys to assist with the final design and planning application.
4. Engaging with the local community
At Innova, we believe that public engagement is imperative to a project. As such, we reach out to the LPA, local Parish, and Ward Councillors, to arrange public consultations to obtain valuable local information and feedback – which we look to incorporate wherever possible.
5. Creation and submission of planning application
Once all studies have been undertaken and the site is designed, a planning application is created and submitted to the Local Planning Authority to decide if planning should be approved.
At the same time, our experienced project managers work closely with Innova’s legal counsel to obtain the rights to develop and operate on the selected site, and continue working with Innova’s grid specialists to progress with the grid agreement.
Building on the track record and expertise of the wider group, our core current focus is on solar and storage projects.
However, we work tirelessly across multiple renewable energy generation technologies, and strive to develop and implement the optimal generation technology mix best suited to the site or project and the objectives of our development or operational partners and local communities.
Get in touch
Back to development solutions
Design & Concept
design
Innova’s vertically integrated structure and highly experienced team delivers high quality de-risked operating assets through the following imperatives:
- Development integration
- Skilful construction
- Optimised operations
- Linking consumers to generators of renewable energy
Back to renewable solutions
Property
property
Land promotion
Some of our most recent projects are included below.
- Norfolk – Urban extension comprising 500+ new homes, care home and sporting facilities.
- Somerset – Promotion of edge of village land for c30 new homes.
- Worcestershire – Plan led promotion for c30 new homes.
- Gloucestershire – Promotion of land at edge of village for c55 new homes.
- Midlands – Promotion of employment land for large scale distribution centre.
- Suffolk – Outline planning consent secured for 65 new homes on village site.
- Worcestershire – Village site for approximately 75 new homes and employment land.
Ecology and Biodiversity
As operators of renewable hubs, we feel passionate about safeguarding local ecology, enhancing biodiversity, and protecting habitats. We work closely with communities where we operate, farmers and other landowners to design and implement solutions that go above and beyond our statutory requirements.