Gülermak UK solar financing reached a milestone just three years after the company's formation, with the Turkish-origin developer securing a £35 million NORD/LB construction loan for its 48 MW Hanningfield solar farm using the same stacked CfD-PPA structure that AR7's 157 solar projects have already validated.
A Turkish-origin renewables developer that only came into existence in 2023 has closed its first UK project financing, locking in £35 million from a German state-owned lender to build a 48 MW solar farm in Essex.
Gülermak Renewables secured the construction financing from NORD/LB to fund its Hanningfield photovoltaic project, the company confirmed on 25 September 2026. The deal lands in a market where the UK’s Allocation Round 7 (AR7) has just delivered 4.9 GW of new solar capacity across 157 projects, creating a well-worn template for bankable sub-100 MW solar that new entrants can now follow.
That template is the story here. Understanding how the Contract for Difference (CfD) and route-to-market power purchase agreement (PPA) layers interlock to make a construction loan possible is what turns Hanningfield from a small deal announcement into a readable signal about the state of UK solar project finance, and about how far the door has opened for international capital.
A £35 million debut: how the Hanningfield deal was structured
The financing rests on three contractual layers, each closing a gap the others leave open. Strip any one away and the construction loan does not happen.
Here are the core parameters of the deal:
- Capacity: approximately 48 MW ground-mounted solar in Hanningfield, Essex (reported as 48-49.5 MW / MWp)
- Financing: £35 million senior construction facility from NORD/LB
- CfD term: 20 years under AR7, covering 100% of electricity generated
- Route-to-market PPA: 10 years with ElectroRoute
- Commercial operations target: August 2027
- Developer/borrower: Gülermak Renewables, established 2023