{"id":254162,"date":"2021-03-04T13:00:07","date_gmt":"2021-03-04T13:00:07","guid":{"rendered":"https:\/\/sandbox.lightsourcebp.com\/news\/100mwp-sale-agreed-with-nextenergy-solar-fund-for-64-3m\/"},"modified":"2023-09-11T14:50:35","modified_gmt":"2023-09-11T14:50:35","slug":"100mwp-sale-agreed-with-nextenergy-solar-fund-for-64-3m","status":"publish","type":"post","link":"https:\/\/sandbox.lightsourcebp.com\/uk\/news\/100mwp-sale-agreed-with-nextenergy-solar-fund-for-64-3m\/","title":{"rendered":"100MWp sale agreed with NextEnergy Solar Fund for \u00a364.3m"},"content":{"rendered":"
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100MWp sale agreed with NextEnergy Solar Fund for \u00a364.3m<\/h1>\n <\/div>\n <\/div>\n <\/div>\n\n
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Lightsource bp,\u00a0<\/span>a global leader in the development and management of solar energy projects<\/span>, has today announced the completion of the sale of 100MWp of UK solar projects to FTSE 250 renewable energy investment company NextEnergy Solar Fund<\/span>\u00a0(NESF)<\/span>, for a total consideration of \u00a364.3 million.<\/span>\u00a0<\/span><\/p>\n

The\u00a0<\/span>transaction\u00a0<\/span>consist<\/span>s<\/span>\u00a0of two 50MWp solar projects, one in Yorkshire and one in Nottinghamshire, one of which is already\u00a0<\/span>commissioned,<\/span>\u00a0and the second will reach connection in the first half of 2021.\u00a0<\/span>Both sites\u00a0<\/span>are being<\/span>\u00a0constructed using high-quality components and the latest\u00a0<\/span>bifacial\u00a0<\/span>module technolog<\/span>y<\/span>, to maximise generation and returns.\u00a0<\/span>Once operational, the<\/span>\u00a0combined installed capacity of\u00a0<\/span>the\u00a0<\/span>two sites will produce enough renewable electricity to\u00a0<\/span>power the equivalent of c.29,000 UK households per\u00a0<\/span>year<\/span>\u00a0and<\/span>\u00a0will increase NESF\u2019s installed capacity by almost 15%.<\/span>\u00a0<\/span><\/p>\n

The renewable energy produced by this portfolio is contracted to AB InBev, the world\u2019s largest brewer, via a 15-year power purchase agreement (PPA) covering\u00a0<\/span>c.<\/span>75% of the solar power generated. This contract will provide long-term returns for NESF and the portfolio\u00a0<\/span>is expected to<\/span>\u00a0generate stable\u00a0<\/span>power generation\u00a0<\/span>for<\/span>\u00a0a<\/span>\u00a040-year lifespan.<\/span>\u00a0\u00a0<\/span>\u00a0<\/span><\/p>\n

Craig Love, Global Head of Structured Finance at Lightsource bp commented: \u201cWe\u2019re excited to close the sale of this portfolio to NextEnergy Solar Fund. Lightsource bp prides itself on developing high quality solar assets that offer attractive, long-term returns to owners and investors.\u00a0<\/span>\u00a0<\/span>Th<\/span>is<\/span>\u00a0transaction\u00a0<\/span>further\u00a0<\/span>demonstrate<\/span>s<\/span>\u00a0our ability to structure projects with strong market appeal, providing financial and sustainability benefits to\u00a0<\/span>investors,\u00a0<\/span>off-takers and\u00a0<\/span>partners\u00a0<\/span>worldwide<\/span>.\u201d<\/span>\u00a0<\/span><\/p>\n

Ross Grier<\/span>,\u00a0<\/span>Managing Director<\/span>\u00a0<\/span>of\u00a0<\/span>NextEnergy<\/span>\u00a0Capital<\/span>\u00a0commented:<\/span>\u00a0<\/span>\u201cThe Camden portfolio is an excellent fit for N<\/span>ext<\/span>E<\/span>nergy\u00a0<\/span>S<\/span>olar\u00a0<\/span>F<\/span>und<\/span>, and we\u2019re pleased to be partnering with Lightsource bp on the acquisition of these two projects, which\u00a0<\/span>once fully operating\u00a0<\/span>bring the<\/span>\u00a0total installed capacity of our portfolio to 863MWp.<\/span>\u201d<\/span>\u00a0<\/span><\/p>\n

Lightsource<\/span>\u00a0<\/span>bp expects to bring further UK projects to market in 2021 as an integral part of its development strategy<\/span>,<\/span>\u00a0balancing<\/span>\u00a0<\/span>growing\u00a0<\/span>its\u00a0<\/span>IPP platform with value creation\u00a0<\/span>via<\/span>\u00a0the M&A market.<\/span>\u00a0<\/span><\/p>\n\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n\n

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