Bluefield Solar has acquired a UK solar and wind portfolio totalling just under 50MW.
The 47.5MW portfolio has been acquired from Good Energy Group for an initial equity consideration of £16.4m, rising to a total of up to £24.5m, subject to a series of due diligence milestones being met within the next few weeks.
The acquisition contains £39.1m of long term portfolio debt provided by Gravis.
The portfolio consists of six ground mounted solar plants with a total installed capacity of 30.1MW and two wind farms with a total installed capacity of 17.4MW.
All the solar sites, as well as one of the wind assets, are located in south-west England, whilst the second wind site is located in northern England.
Of the solar projects, five are accredited under the feed-in-tariff regime and one of the projects is accredited under the Renewable Obligation Certificate regime with a tariff of 1.4 ROCs.
Both of the wind farms are accredited under the ROC regime, being 1 ROC and 0.9 ROCs respectively.
In the period 2021 to 2034, the proportion of regulated revenues from this portfolio is projected to be approximately 65%.
John Rennocks, chairman of Bluefield Solar, said: “We are delighted to have acquired this high quality portfolio of operating assets from Good Energy.
“Not only does this acquisition mark our second purchase of operational wind assets within the space of six months, but it also adds a very attractive portfolio of solar assets with a high proportion of regulated revenues to the Company’s significant existing portfolio.”