UK asset manager Greencoat Solar has acquired a 60MW photovoltaics portfolio from Germany’s CEE Group.
The 60.4MW of assets, comprising three solar farms in the UK, will take Greencoat’s aggregate installed capacity above 600MW.
CEE will continue to manage the three solar farms on behalf of Greencoat.
CEE Group acquired the Bicester PV farm in 2014 and the Aston Clinton and Homestead PV farms in 2015 from BayWa, the original developer of the three sites.
CEE Group chief executive Detlef Schreiber said: “We are pleased with the sale of our UK solar portfolio to Greencoat, an experienced owner and operator of solar assets.
“The sale is in line with CEE’s strategic objective of refocusing on our core business in Germany and France and expanding into new continental European markets. We look forward to announcing further developments as they arise.”
Greencoat Capital partner and investment advisor to the Greencoat Solar Assets II fund Lee Moscovitch said: “We are delighted to acquire CEE’s high-quality assets, adding three more solar parks of significant size to our growing portfolio, and taking our installed capacity to more than 600MW.
“The visible pipeline of assets remains strong, and we remain very confident in the significant aggregation opportunity in UK solar.”
CEE Group was advised by Norton Rose Fulbright and Greencoat was advised by Evergy Engineering and Watson Farley & Williams.