Lightsource and BlackRock Real Assets have entered into a strategic partnership targeting 1GW of solar power assets in the UK.
Lightsource has ‘seeded’ the partnership, which will be known as Kingfisher, with 25 solar plants totalling 156MW.
It will add a further 50MW of assets located in Northern Ireland later this year, when the projects are operational and will also provide operations and maintenance services to Kingfisher.
The partnership will target operational utility-scale solar assets in the UK over a three-year period with RBS providing project finance.
Lightsource chief investment officer Paul McCartie said: “Kingfisher is confirmation of our proven differentiation as a professional partner to institutional capital globally, and ability to create profitable and sustainable investment opportunities in the solar and energy broader market.”
BlackRock managing director and head of renewable power for Europe Rory O’Connor said: “We are pleased to partner with Lightsource in the creation of this new UK solar portfolio.”
Image: Lightsource
