Hamburg-based renewables operator Capital Stage has taken its UK-based PV portfolio to in excess of 80MW after purchasing its fifth asset.
Capital Stage has purchased the 5MW park, based near Bedfordshire, from compatriot development partner F&S Solar Concept and all electricity generated will be sold to energy trading company Neas Energy under a long-term PPA.
Capital Stage said the total investment in the asset amounted to around £4.8 million, and expects it to generate sales of around £460,000 in its first full year of operation.
F&S is to provide technical management of the park for its first two years of operation, after which Capital Stage’s O&M subsidiary Capital Stage Solar Service will take control. The group said it expected to save money on the maintenance of the park due to its close proximity to other operational assets.
While the acquisition has been initially financed by Capital Stage’s own funds the company has planned to refinance the asset through a classic project loan at a later date, an agreement for which has been reached with German Bayern Landesbank.
Both Capital Stage and F&S are relatively new entrants to the UK market having only been active since last year.