Real assets investment manager Alpha Real Capital has acquired Innova Energy, which has a solar energy portfolio totalling almost 62MW in the UK.
The 17 PV projects, valued at £86m, are located across the UK and include extension and expansion rights.
They generate about 540 gigawatt-hours of electricity a year, equivalent to powering 186,000 homes.
Alpha Real Capital head of renewables Will Morgan said: “The addition of this portfolio takes Alpha’s solar assets to 215MW and 45 sites.
“Following a strong market recovery, we anticipate remaining active in the market as we continue to source opportunities that will deliver the UK’s energy transition.”
Alpha chief executive Phillip Rose said: “This latest investment takes our renewables investment programme to over £800m diversified across wind, solar and hydro.
“With over £2bn now invested in renewables infrastructure and social infrastructure, Alpha’s funds continue to focus on responsible investing in sectors that make a positive contribution to the environment and society.”
Alpha was advised on the acquisition on English law by Lux Nova Partners, Moore Kingston Smith on tax and financial issues, ITPEnergised on technical considerations, Mills Selig on real estate and Harper Macleod on Scottish law.