The CoStar Impact Awards annually highlight outstanding commercial real estate deals and projects within multiple major markets across the United States, Canada, and the United Kingdom.
Savills, acting for RWE, secured an agreement that will convert the shut-down coal-powered Aberthaw Power Station into a hub for renewable energy, potentially generating thousands of new jobs.
Savills’ development team based in Cardiff initiated the marketing of the sizable 500-acre site in March 2021, which is highly strategic and significant. The sale was finalized in March 2023.
The purchase was financed by the Cardiff Capital Region’s massive £1.2 billion City Deal. The Cardiff Capital Region, encompassing ten local authorities in South East Wales, has allocated £30.4 million for the demolition, clean-up, and redevelopment of the area.
The project relies on private investment and aims to become a flagship centre for green energy production, fostering sustainable and clean economic growth across South East Wales and further afield.
In the CoStar Impact Awards, judged by independent experts, Aberthaw’s purchase stood out in Wales for its considerable ambition, potential for major change, and alignment with the Welsh Government’s Innovation strategy.
Scott Caldwell, who leads Savills’ development team in Cardiff, expressed immense pride in the project’s recognition by CoStar as a benchmark for Wales.
CCR’s bold venture presents a significant opportunity for renewable energy transformation at regional and national scales, showcasing CCR’s commitment to innovation through commercially viable, resilient, and sustainable practices.
