Greencoat Capital has acquired three UK solar farms with a combined capacity over 99MW from Allianz Global Investors for an undisclosed price.
The, deal through the Greencoat Solar 2 fund, covers assets that were all commissioned in March 2016, and all benefit from 1.3 ROCs.
The projects are the 46MW Vine Farm in Hertfordshire, 30MW Rose & Crown in Cambridgeshire and 23MW INRG in Worcestershire.
All three were initially developed by BayWa as part of a larger portfolio of six sites, with Greencoat Solar already owning the other three.
The acquisition means Greencoat Solar 2 has acquired over £1bn of solar generation assets.
Greencoat Capital said that across both funds it now operates in excess of 1GW of solar generation at 122 sites across the UK.
Greencoat Capital’s Karin Kaiser said: “Having owned and operated the other half of this portfolio for four years, we know these are high quality assets and are really pleased with the acquisition.
“We’re very proud to have deployed more than £1bn of private sector capital through Greencoat Solar 2 and continue to see an attractive pipeline of opportunities.
“It is fantastic to be able to contribute to the renewable build-out at this scale, whilst at the same time delivering stable returns to our pension fund clients.”