ET Solar sells photovoltaic plant to Lightsource
- ET Solar
- Lightsource Renewable Energy
Related M&A Transactions
ET Solutions AG, the German subsidiary of ET Solar Energy Corp., has completed the sale transaction of a ground-mounted photovoltaic plant with a capacity of 8.4 MWp with Lightsource Renewable Energy Ltd, a solar investor in the United Kingdom.
This solar power plant "Pyde Drove" is about 40 miles south-west of Bristol and was grid-connected on March 27th. It will be accredited under the 1.6 ROC scheme.
Mr. Dennis She, President and CEO of ET Solar, commented:
"We are happy to work with Lightsource in the UK market. With the advantage of being a fully-integrated one-stop solution service, we are able to provide cost-competitive investment grade power plants for investors and funds in such mature markets like the UK."
Mr. Nick Boyle, CEO of Lightsource, commented:
"We made the decision to work with ET Solar because it has both bankable EPC service and products, and we firmly believe this project is the first of many projects our two companies will develop together in the very near future."
ET Solar and Lightsource signed a memorandum of understanding (MOU) on a collaboration of 50MWp power plants last week.
Lightsource was founded in 2010, and registered in England and Wales, this British company has rapidly grown to over 280 full time professionals and over 600 MW of operational solar assets in just 3 years.
ET Solar provides turnkey solutions services, solar modules and PV balance of system components with experience in over 60 countries.