Bluefield Solar Income Fund has agreed to acquire five new build sub-5 megawatt peak ground-mounted solar photovoltaic plants.
The projects are being acquired for a total consideration of £22.7 million, including transaction costs and working capital.
Each plant is expected to become operational before 31 March 2017 and to qualify under the 1.2 Renewable Obligation Certificate regime.
Three of the projects, located in Essex, Leicestershire and South Wales, are being constructed by Parabel UK Limited – the contractor for the company’s Ashlawn and North Beer projects.
The two remaining projects are located in Staffordshire and Northamptonshire and are being constructed by Solar Century Holding. The successful acquisition of the projects will bring the total of the Company’s projects constructed by Solar Century to seventeen, with a total capacity of c.166 MWp.
Story provided by StockMarketWire.com