Greencoat, Sonnedix and Luxcara each expand solar portfolio via acquisition

Greencoat Capital has added a 60.4MW UK asset to its solar portfolio with the acquisition of three plants from CEE Group.

Greencoat Solar Assets II has bought the Bicester PV portfolio from the German asset manager for an undisclosed sum.

CEE Group acquired the Bicester PV farm in 2014 from BayWa.

CEE said it will continue to manage the three solar farms on behalf of Greencoat.

Detlef Schreiber, CEO of CEE Group said: “The sale is in line with CEE’s strategic objective of refocusing on our core business in Germany and France and expanding into new continental European markets.”

Lee Moscovitch, a partner at Greencoat Capital and an investment advisor to Greencoat Solar Assets II, said the latest deal takes Greencoat’s installed capacity to more than 600MW.

“The visible pipeline of assets remains strong, and we remain very confident in the significant aggregation opportunity in UK solar.”

Independent solar power producer Sonnedix has also bought a portfolio of 28 solar photovoltaic (PV) plants from Italian energy company Graziella Green Power, with a combined capacity of 53MW. The purchase agreement also provides for the acquisition of a further 2MW plant in early 2019.

Financial details were undisclosed.

The solar PV portfolio consists of a mix of ground and roof-mounted plants located in the Toscana, Umbria, Sardegna and Basilicata regions.

The acquisition increases Sonnedix’s presence in Italy to an operating capacity of 181MW.

Axel Thiemann, the CEO of Sonnedix, said: “We are proud of our continued expansion in Italy and are actively seeking further opportunities to grow our operations across the country.

“This reflects our wider growth strategy as we look to expand our footprint in OECD markets around the world.”

Lastly, Hamburg-based Luxcara has acquired the Guillena-Salteras solar project in southern Spain.

The renewable energy asset manager said it bought the solar park, situated north of Sevilla in the region of Andalusia, on behalf of institutional investors.

The project was developed by Solarig Global Services, who will also build the plant. Financial details were undisclosed.

The plant will have a projected capacity of 121MW.

Philip Sander, a managing partner of Luxcara, said: “This is our second investment in southern Spain within a year. Andalusia continues to convince us with its high specific yield and very low levellised cost of energy.”

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