Solarcentury has sold a 71MW pipeline of projects to PV investor Magnetar Solar. Magnetar has also selected Solarcentury to construct a further 40MW of capacity.
All 111MW are expected to be completed in time to receive 1.4ROCs, according to a statement released by the company.
The 71MW Solarcentury pipeline is made up of four sites from 7-28MW. The 40MW Magnetar pipeline is also made up of four projects.
“We are pleased to announce the sale of our solar portfolio to Magnetar Solar,” said Frans van den Heuvel, CEO, Solarcentury. “With eight sites already under construction, the close working relationship we are forming with Magnetar Solar is a win-win for both companies and supports the urgent need to develop renewable energy sources to improve the UK’s energy independence,” added van den Heuvel.
Solarcentury will provide O&M services for all 111MW of projects.
Magnetar Solar owns 25 solar farms in the UK with a combined capacity of 300MW. A third of this is operational and the rest are all aiming for completion in time for the 1.4ROC cut-off date.