China Sunergy has agreed a deal with Lightsource Renewable Energy to purchase the Chinese module manufacturer’s 5MW project in Cornwall which was completed in March 2013.
The sale of the project represents the first UK project to be sold by China Sunergy, a deal that the company hails as a major milestone as it looks to develop its downstream activities.
Stephen Cai, CEO of China Sunergy explained: “The sale of this project highlights China Sunergy’s pioneering spirit, as we are the first Chinese developer to fully complete a downstream project lifecycle, having invested, developed, constructed, operated and now sold a ground-based solar PV project in the UK.”
The 5MW solar farm uses the company’s own range of polycrystalline modules and produces enough electricity for 1,500 local homes. The companies claim that income from the solar farm will help provide the farm owners with funds to make other areas of the farm more productive, including improved machinery, fencing and hedgerows.
Nick Boyle, CEO of Lightsource added: “We are delighted to have completed this deal with China Sunergy and believe that this project, like our many others, will once again boost the rural economy in this area as well as allow further biodiversity.”