NextEnergy Solar Fund Limited (NESF) has announced the signing and completion of three separate share purchase agreements to acquire special purpose vehicles owning North Farm, Birch and Thurlestone.
The deal comprises 18.3 Mwp of solar energy and it has been closed for a total consideration of £22.1 million (US$33.9 million): £14.5 million for North Farm, £5.3 million for Birch, and £2.3 million for Thurlestone.
North Farm is a 11.5MWp operating solar power plant that was commissioned in March 2015. The plant has been accredited under the 1.4 Renewable Obligation Certificate regime.
5.0 MWp Birch solar power plant was constructed under an engineering, procurement and construction (EPC) contract negotiated by NESF's investment advisor, NextEnergy Capital Limited, and has been connected since June 2015.
The 1.8 MWp Thurlestone portfolio comprises some 700 rooftops in Leicestershire which were connected between November 2012 and June 2013. Thurlestone is NESF's first acquisition of a rooftop portfolio and the Company expects to expand in this market segment.
Both Birch and Thurlestone receive the Feed-in-Tariff incentive, enabling NESF to diversify the composition of its revenue sources.