British renewable developer Camborne Capital and US independent power producer sPower have completed their first joint acquisition.

The pair announced their collaboration in the UK market in mid-September and have now opened their account with the purchase of a 7MW solar farm in Ceredigion in South Wales from RGE Energy.

“This represents another milestone in the Camborne/sPower development portfolio in what has been a busy month for project acquisition,” said Declan Mackle, CEO, Camborne energy Group. “We have built an attractive pipeline of quality assets which we are looking forward to building out in the coming months,” he added.

Work on the Ceredigion plant will begin now to ensure it is accredited before the renewable obligation scheme closes to projects over 5MW on 31 March.

“RGE has taken several sites through the planning process and these represent an attractive asset class to buyers like Camborne and sPower,” said Marcus Price, managing director of RGE Energy UK. “We’re delighted to have closed this transaction with them so quickly and are looking forward to working together on further projects,” said Price.