BlackRock has secured a 15MW UK solar plant following the sale of a holding company responsible for the Hall Farm development in Norwich.
SPI Energy announced yesterday that its wholly-owned subsidiary, SPI China, had closed a transaction to sell the entire issued share capital of Hall Farm to a BlackRock-managed fund.
Located in Tasburgh, Norwich, Hall Farm was connected to the grid in August 2015 and is eligible to receive Renewables Obligation Certificates at 1.3 ROCs/MWh for 20 years under the RO scheme.
Xiaofeng Peng, chairman of SPI Energy, said: "We are delighted to partner with BlackRock again on our third UK transaction during the past year. BlackRock is one of the leading global infrastructure investors and this deal is a testament to SPI Energy's proven track record of delivering high quality solar power projects in the UK and worldwide."
The latest sale follows a similar deal struck last summer which saw the SPI China subsidiary sell its entire issued share capital of the 1.4 ROC Grange Farm solar park in Lincolnshire. Speaking in June 2015, Rory O’Connor, managing director at BlackRock said the sale was part of a “significant investment programme” in renewables.