Greencoat Capital makes second major acquisition with 73.5MW portfolio

Greencoat Capital has made its second major solar acquisition after targeting the UK solar market, buying a 73.5MW portfolio from an unnamed consortium.

Greencoat Solar I LP has taken on a portfolio of seven operational assets, the most notable of which is the 50MW Scottow Moor Solar park constructed on a former RAF airbase in Norfolk.

The deal takes Greencoat’s portfolio capacity to in excess of 180MW having previously purchased circa 103MW from BayWa r.e. and Primrose Solar at the end of last year.

At the time Greencoat said it had a further 150MW in its crosshairs and today Lee Moscovitch, partner at Greencoat Capital, said the firm was excited about the “continued momentum” in its UK solar business.

“We see further value in the UK solar market and look forward to continuing to grow our platform,” he added.

Greencoat was advised by Eversheds Sutherland on the transaction, while the selling consortium was advised on legal matters by Osborne Clarke LLP and by PwC on corporate finance.