Greencoat Solar has added a further 60MW to its portfolio with a new acquisition, taking its total installed capacity above 600MW.
The fund confirmed today that it had acquired a total of three operational UK solar farms at the end of last year from German asset manager CEE Group.
The three solar farms - Bicester, Aston Clinton and Homestead - were acquired by CEE between 2013 and 2015 from solar developer BayWa r.e. and Greencoat said the trio had demonstrated strong operational performance under CEE’s ownership.
CEE will continue to manage the solar farms on Greencoat’s behalf and the German firm’s CEO David Schreiber said the sale fell in line with its strategic objective of focusing on its core business in Germany and France.
Lee Moscovitch, partner at Greencoat Capital, added: “We are delighted to acquire CEE’s high-quality assets, adding three more solar parks of significant size to our growing portfolio, and taking our installed capacity to more than 600MW. The visible pipeline of assets remains strong, and we remain very confident in the significant aggregation opportunity in UK solar.”
CEE Group was advised by Norton Rose Fullbright, while Greencoat was advised by both Evergy Engineering and Watson Farley & Williams.