Aquila Capital adds second UK farm to solar portfolio

Asset management firm Aquila Capital has added a second solar array to its portfolio after acquiring an unnamed 9.8MWp installation near Sheffield.

The solar farm was developed by Blue Planet Solar and German EPC firm Pfalzsolar and was connected to the national grid in March 2015, making it eligible for the 1.4 ROC support scheme.

Susanne Wermter, head of the special investment team at Aquila Capital, said the company had targeted the UK due to its subsidy support programme and high energy prices, which have made it an “attractive investment case”.

Last month the UK government released proposals to cut funding for solar projects under 5MW in size a year earlier than planned, effectively ruling out future support for all utility-scale solar farms after 1 April 2016.

Aquila made its first move into the UK market in June this year, acquiring an unnamed 7.2MW solar farm near Banwell in Bristol from German developer New Energy for the World.

The Germany-headquartered company has extensive holdings in solar assets outside of the UK with a portfolio in excess of 400MW mainly spread across continental Europe.