FIM starts 2018 with double solar acquisition

Renewables investment group FIM Services has acquired two operational solar parks in the UK.

The two 5MW solar parks – East Appleton and Stripe – are located next to each other in Richmondshire, North Yorkshire.

Both sites were connected in March 2016 and are accredited for 1.3 ROCs.

The acquisition takes FIM’s solar portfolio to six sites totalling around 30MW in generation capacity and Wayne Cranstone, chief operating officer at FIM, said the firm was delighted to the year on a high.

“Having completed these two acquisitions, we are now looking for additional assets to acquire with the surplus equity from our recent fundraising,” he added.

FIM confirmed its intent to take a more significant stake in the UK’s solar market last summer, announcing the launch of a new fund for subscription offering investors returns of 7%.