Greencoat Solar, an investment fund managed by Greencoat Capital, has acquired 73.5 MW of installed PV capacity in the U.K. from a group of private investors.
The acquisition comprised seven individual solar parks and included Scottow Moor Solar, which – at close to 50 MW – is one of the largest installations on the British Isles.
With this latest round of acquisitions under its belt, Greencoat Solar now owns 16 solar farms in the U.K. with an operating capacity in excess of 180 MWp. Greencoat Capital LLP is one of the largest renewable energy investment funds in the U.K., with a more than GBP 1.5 billion in equity under its management.
Thus far, the bulk of its investments have been made in wind power, but solar’s recent rise in the U.K. has triggered a burst of activity in this sector.
“We are excited about the continued momentum, in our U.K. solar business and pleased to add these high quality assets to our portfolio,” said Greencoat Capital LLP partner Lee Moscovitch. “We see further value in the U.K. solar market and look forward to continuing to grow our platform.”
Greencoat Solar was only founded in October last year and wasted little time in making its mark on the U.K. PV landscape, snapping up in December 30 MW of solar capacity from German renewable energy developer BayWa r.e.