GREENCOAT CAPITAL ANNOUNCES ACQUISITION OF A 73.5MWP SOLAR PORTFOLIO BY GREENCOAT SOLAR I LP
The portfolio comprises seven solar farms, including Scottow Moor Solar, one of the country’s largest solar parks (located on a former RAF airbase in Norfolk) with a total capacity of ca. 50MWp. The assets were acquired from a group of private investors.
Lee Moscovitch, Partner, Greencoat Capital LLP said:”We are excited about the continued momentum in our UK solar business and pleased to add these high quality assets to our portfolio. We see further value in the UK solar market and look forward to continuing to grow our platform.”
Since inception in October 2016, Greencoat Solar I has acquired 16 solar farms with an aggregate capacity in excess of 180MWp.
Greencoat Solar I is managed by Greencoat Capital LLP, one of the country’s leading renewable investment firms with £1.5bn equity under management. Greencoat Capital’s other managed funds include Greencoat UK Wind plc, the £880m listed renewable infrastructure fund; Greencoat Renewables DAC, an Irish renewable infrastructure vehicle; and ESB Novusmodus, the €200m private equity fund.
Eversheds Sutherland LLP acted as legal advisor to Greencoat Solar I on the transaction. Osborne Clarke LLP acted as legal adviser and PricewaterhouseCoopers LLP acted as corporate finance advisor to the selling consortium.