Equitix has further increased the renewables capacity of its fourth core fund with the acquisition of the operating 40MW Cowdown project, located near Andover.
The project was developed by Golden Square Energy, a joint venture between AGR Group and Ingenious Infrastructure, as part of a mixed portfolio of UK renewables developments totalling more than 35 assets.
Constructed by Solarcentury after receiving planning consent in late December 2015, the project was connected in time for the 1.3 ROC deadline on 31 March 2016.
Oliver Breidt, director at GSE, said: “The 12 months period from grant of planning, to the acquisition of the project as an operating asset demonstrates what can be achieved in a short space of time with an expert team in place, as well as knowledgeable investors.”
Mark Heuff, director at JLL which acted as lead advisers on the deal, added “This is a high quality asset and the market once again showed there is strong appetite for quality assets in spite of increasing levels of general transaction market uncertainty.”
Equitix declined to comment on the capacity bought up by of Equitix Fund IV but a number of sites have been acquired by the investment platform in recent months.
A portfolio of five sites totalling almost 80MW was bought from Primrose Solar in December, whole 20MW of sites from ReneSola were purchased in July.