The sale of three UK solar farms is underway after European Solar Farms, a division of European Energy, has signed a conditional deal with the subsidiary of a Danish pension provider.

The PV plants have a combined installed capacity of 14.75MW and are all operational. The deal has been signed with PFA Infrastruktur Holding, part of PFA Pension, Forsikringsaktieselskab.

The agreement is conditional upon the satisfaction of a number of customary conditions precedent, including the solar PV plants receiving formal confirmation of the applicable feed-in-tariff. A spokesperson for European Energy, which owns approximately 79% of the shares in European Solar Farms, said the developments were pre-accredited to the FiT in mid-2015 with over £110 per MWh and indexed by RPI.

The agreement also includes an option for an additional three solar farms which, if exercised, will bring the size of the transaction to a total of 29.36MW installed capacity.