24 UK Solar Plants Fetch $267 Million in Asset Sale


Canadian Solar Inc. today said that it has sold a 142-MWp solar portfolio in the U.K. to London-based asset manager Greencoat Capital LLP in an asset sale worth about US$267.7 million.

The solar portfolio includes 24 operational solar power plants across England, Wales and Scotland, and is expected to provide revenues for 20 years under the U.K.’s renewable obligation certificate and feed-in tariff schemes.

“We are delighted to work with Greencoat, a leading U.K. renewable infrastructure investment firm, on the sale of our solar asset portfolio. Our sizable operational portfolio creates an interesting investment platform for high-quality solar asset growth in the U.K.,” Shawn Qu, Chairman and CEO of Canadian Solar, said in a statement.

According to the company, the 24 solar power plants will generate approximately 142,000 MWh of energy annually. Three of the solar power plants will provide additional benefit under the community interest companies scheme, in which profits will benefit the community.

The company said that the solar power portfolio includes 272,000 Canadian Solar CS6P and CS6U modules, and Canadian Solar will provide operations and maintenance services for all 24 solar power plants.

Lead image credit: CC0 Creative Commons | Pixabay

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