Aquila Capital Acquires Photovoltaic Plant in the UK
- Published: Wednesday, 29 July 2015 11:45
Aquila Capital, one of Europe’s leading independent alternative asset managers, recently announced that it has purchased a photovoltaic park near Bristol for an undisclosed sum.
The plant is located in Banwell has an installed capacity of 7.2 MWp. It was constructed by its seller and developer New Energy for the World GmbH. The manufacturer of the park’s CIS modules, whose high efficiency levels make them particularly well suited to the UK climate, is Solar Frontier.
The park has been connected to the grid since its completion in March 2015. It is classified as 1.4 under the Renewables Obligation Certificate (ROC) project. The UK supports the generation of electricity from renewable energy sources with a number of incentive schemes, including ROCs, which is a quota system based on market prices. Purchasers of renewable energy also benefit from tax relief. As a result, the UK saw the largest investment in photovoltaic energy in Europe in 2014.
Photovoltaic investments globally reached USD 149.6 billion last year, which was 25% higher than in 2013. The significant increase in growth was largely driven by the significant decrease in production costs of photovoltaic energy, resulting in increased competitiveness for the energy source.
Boris Beltermann, Head of Solar & Wind Investments at Aquila Capital, said: “The UK has become one of the strongest-growing markets for photovoltaic energy in recent years. Its incentive schemes for renewable energy further strengthen the investment case for photovoltaic parks in the country. Having already made significant photovoltaic investments in Germany, France and Japan amounting to an overall photovoltaic track record of 462MWp, this transaction further adds to Aquila Group’s significant track record in offering renewable energy investment solutions.“
Jochen Kleimaier, Founder and Owner of New Energy for the World GmbH, added: “New Energy is one of the few German companies that have been able to gain a foothold in the UK. We are very pleased that with the sale of the Banwell project to Aquila Capital we were able to win a partner of choice.”