German renewables operator Capital Stage has continued its spending spree in the UK, taking on another solar asset.
The Hamburg-based firm has spent £4.7 million on a 4.5MW solar park developed by Chinese developer SPI, taking its overall UK solar capacity to more than 90MW.
While Capital Stage has initially financed the acquisition through equity, a long-term refinancing is planned.
The park, located near Blackpool, was connected in March 2017 and is eligible under the 1.2 ROC regime.
The first two years of the park’s operations will be managed by the project’s EPC Solea, after which technical management will transfer to Capital Stage’s operations subsidiary Capital Stage SolarService.
Capital Stage has gradually built up its UK solar portfolio over the last few years having acquired various assets in 2015 and 2016.