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Lighsource BP closes 100MW solar sell-off – reNews

Lightsource BP has closed the sale of 100MW of UK solar projects to NextEnergy Solar Fund (NESF), for £64m.

The transaction consists of two 50MW solar projects, one in Yorkshire and one in Nottinghamshire.

One is already commissioned and the second will reach connection in the first half of 2021.

Both sites are being constructed using high-quality components and the latest bifacial module technology, to maximise generation and returns, Lightsource BP said.

Once operational, the combined installed capacity of the two sites will increase NESF’s installed capacity by almost 15%.

The renewable energy produced by the portfolio is contracted to brewery AB InBev via a 15-year power purchase agreement (PPA) covering 75% of the solar power generated.

This contract will provide long-term returns for NESF and the portfolio is expected to generate stable power generation for a 40-year lifespan, stated Lightsource BP.

Lightsource BP structured finance head Craig Love said: “We’re excited to close the sale of this portfolio to NextEnergy Solar Fund.

“Lightsource bp prides itself on developing high quality solar assets that offer attractive, long-term returns to owners and investors. 

“This transaction further demonstrates our ability to structure projects with strong market appeal, providing financial and sustainability benefits to investors, off-takers and partners worldwide.”

NextEnergy Capital managing director Ross Grier added: “The Camden portfolio is an excellent fit for NextEnergy Solar Fund, and we’re pleased to be partnering with Lightsource BP on the acquisition of these two projects, which once fully operating bring the total installed capacity of our portfolio to 863MW.”

Read More: Lighsource BP closes 100MW solar sell-off – reNews

2021-03-04 07:57:44

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