Rockfire Energy has doubled its UK solar acquisition pipeline after completing a deal to take over a 105MW portfolio from developer Wirsol Energy.
The acquisition consists of 19 solar farms located in England and Northern Ireland which were all completed under the Renewable Obligation schemes, ranging from 1.4 NI-ROC to 1.2 ROC, which closed on 31 March 2017.
Rockfire had previously set its sights set on a 200MW pipeline following the acquisition of two new UK solar farms in April however according to Liam Kavanagh, Rockfire Capital’s founder and chief executive this has now been increased to 400MW.
Speaking about the deal with Wirsol, he added: “We are very pleased to have acquired these assets from Wirsol. The transaction was completed in two months from start to finish which demonstrates our efficiency and ability to close deals swiftly.”
The completion of the deal takes Rockfire’s assets to 300MW of installed solar PV capacity across ground-mounted and rooftop installations. Other recent investments include the acquisition of a solar PV array at a Rolls Royce site in Bristol and the procurement of Swindon Solar Park in September 2016.
Mark Hogan, managing director of Wirsol, added: “I am very pleased to have concluded these acquisitions with Rockfire and their team over a relatively tight timeline. Both Wirsol and Rockfire worked effectively and with enthusiasm to conclude this important transaction. Wirsol Energy are already engaged in acquiring and building out significant solar pipelines in the UK and Australia and we hope to continue a positive and effective relationship with Rockfire accordingly.”