U.K. headquartered Hive Energy has been granted planning permission to develop a 40 megawatt (MW) subsidy free solar park in Hampshire, England.

In an announcement on Monday, the business said the solar park would be located near its head office and would be built next summer.

The site would produce renewable power equating to the equivalent yearly energy needs of roughly 9,100 average households, helping to save around 16,500 tons of CO2 emissions annually.

Hive said that the site's location, close to its head office, would enable its R&D team to pilot and test solar and storage technologies.

"This subsidy free solar farm will generate a level of renewable energy which will make a significant contribution towards meeting national renewable energy targets and will help to increase the security of the UK's energy supply," Giles Redpath, CEO of Hive Energy, said in a statement.

Redpath added that the project would "support the development of innovative energy saving technology."

According to the U.K. government, renewables' share of electricity generation was 26.6 percent in the first quarter of 2017. Generation from solar photovoltaics rose by 16 percent compared to the first quarter of 2016, hitting 1.7 terawatt hours. Photovoltaics refers to a way of directly converting light into electricity.