The Foresight Solar Fund has agreed to buy the 46MW Landmead solar farm, the largest in the UK according to the investor.
The plant, in Oxfordshire, is still under construction by German firm BELECTRIC with grid connection expected later this month. The plant expects to be accredited for support at 1.4ROCs under the renewable obligation.
The acquisition is agreed under a binding contract subject to the developer meeting all required criteria and the completion of grid connection.
On completion, the deal will take the Foresight Solar Fund’s UK assets to 231MW.
“This agreement with BELECTRIC to acquire the 46MW Landmead solar plant, will boost the company’s capacity by around 25%,” said Ricardo Piñeiro, director, Foresight Solar Fund. “Following acquisition, Foresight Solar Fund will own and operate four of the largest solar power plants in the UK, with an enterprise value in excess of £300 million, doubling the size of the company within 15 months of IPO,” added Piñeiro.
Primrose Solar recently connected a 41MW plant which it believes is the largest operational solar farm in the UK. It also has a 48MW plant in development. In August Trina Solar acquired an unfinished 49.9MW plant from Good Energy.
This story has been updated to clarify details on the UK’s largest solar farms at the time of writing.