Silverlight Capital Partners is preparing to target between 600 and 800MW of operational UK solar assets in expectation that the secondary market will double within the next six months.

The investment firm, led by co-founder of Equinox Energy Capital Leff Kapsogiorgos, has begun a fundraising drive seeking to raise £200-300 million for the purposes of capturing around 10% of the market when it begins acquiring assets.

The UK’s secondary market is currently thought to stand at more than 2GW but according to Pam Frigo, senior advisor at Silverlight Capital Partners, this will see rapid growth in the coming months as “the greatest emerging asset class anybody can be involved with”.

Speaking to Solar Power Portal, she said: “In the last two years you've had 80% of the solar actually built. What we're experiencing now and what we are actually positioning ourselves [for] is that rotation from development phase to the operational end.

“I think the 2[GW] is going to turn into 4. I think that what's available is about 2[GW] but as it starts to mature out and people that were looking to hold out start to see there's a place for it and will be looking to flip as well.”

Silverlight’s strategy rests on this significant increase in declared capacity entering the market, either from existing sites or the expected increase arising from the final ROC deadline in March. These annual deadlines have consistently delivered massive increases in UK capacity, with 2.5GW added in Q1 2015 marking a historic period of growth for the country.

While not as significant, 1.5GW was added in the first quarter of this year and the final ROC period to come to an end in March 2017 is likely to result in yet further increases.

A number of large investor firms are already targeting UK assets, with the likes of Foresight chasing 200MW; Next Energy Solar currently in negotiations for 560MW; and Bluefield Solar Income Fund last month announcing approval of a 68MW pipeline of pre-construction assets.

Despite the high levels of activity in the sector, Frigo is confident there is still space for Silverlight to acquire the assets it is seeking.

“The whole strategy is that there is not a developed secondary [market] and we're looking to [be] pioneers in that and absolutely there should be competition because otherwise the business proposition doesn't make sense. A lot of that will come from what is in the developmental side.

“2[GW] that hasn't yet been declared we think will be coming on the market quite shortly,” she said.

Frigo added that the perceived lack of confidence among investors in the UK and the currency shifts brought on since Brexit will pass as greater uncertainties take hold elsewhere, particularly in Europe with the upcoming referendum in Italy and elections in Germany and France next year.

“I think where the UK had its first political earthquake when we elected to leave [the EU] the earthquakes are just starting in Europe. If you look at the Euro [to] Stirling you [will] see that begin to gravitate back.

“People will still be cautious and that's the golden question: should you be investing the UK? I personally am of the very strong opinion that this is going to be an enormous opportunity for the UK.”