UK Power Networks Services is acquiring a renewables portfolio from SDCL Energy Efficiency Income Trust LLP.
The deal sees UK Power Networks Services taking ownership of 70 solar, wind and hydro energy plants, generating 68.7MW of electricity for United Utilities Water (UUW).
The portfolio is underpinned by a long-term power purchase agreement with UUW.
Director of UK Power Networks Services David Mitchell said: “Our vision is to deliver sustainable, reliable energy and we see this renewables portfolio as a natural fit.
“Our long-term objective is to grow our technology and geographic footprint in the renewables sector.”
“We have been building our capacity in this sector in recent years and recently delivered one of the largest solar car ports in the UK.
“This acquisition has been carefully negotiated to achieve a good price and is another example of us investing in large portfolios of key renewable UK assets.”