RWE has completed sale of a 37MWp solar power plant in the UK. The German utility has sold the Kencot solar farm about 20 miles west of Oxford to Foresight Solar Fund.
Foresight Solar Fund has 10 operational assets with the total capacity of 231MW. It also has several additional large project acquisitions under consideration.
The company’s investment adviser, Foresight Group, now manages £1 billion of solar assets across the UK, US and Southern Europe.
Conergy had built the Kencot project which has 144,000 panels and generated electricity adequate to power 10,000 homes. The farm began commercial operations last year and has been supplying power largely to local residents, businesses and public sector organisations.
The solar farm was built under an engineering, procurement and construction (EPC) contract. It was the first investment RWE made in Britain.
The 129-acre site was a former wartime airbase and had been classified as brownfield land.
Conergy had taken care to reinforce hedgerows around the site to hide it from public view, and to boost biodiversity and local wildlife.
It boasts being a zero-carbon power station and is expected to save 380,000 tonnes of carbon dioxide emissions over the next twenty four years of its operation at the site — that is till its permission expires.
RWE had signed an agreement with Conergy stating that it would sell it to Foresight Solar Fund once the project was completed.
Ajith Kumar S
editor@greentechlead.com