A 10MW solar farm in Cambridgeshire has been put up for sale by a private landowner.
The 28-hectare site which was formally used for agriculture is leased to solar developer Lightsource Renewable Energy Ltd on a 25-year lease.
Strutt & Parker will market the freehold investment located near Chittering. Commenting on the demand for renewable projects, Alexander Creed, partner in resources and energy at Strutt & Parker, said: “Freehold interests of renewable energy generation technologies are beginning to come to the market; and they represent a sound investment opportunity with the potential to provide strong returns.
“We fully expect this to appeal to a wide range of investors seeking secure income streams backed by a physical asset at the end of the lease. Due to the levels of committed government support and the projected rises in electricity this type of investment is relatively low risk and secure. The projected yields for the current projects for sale will certainly appeal to investors; they compete with more traditional property investment with similar yields such as industrial property, at circa 7%.”
The 10MW solar farm is predicted to provide enough electricity to power 2,800 local homes every year.