Primrose Solar Sells 5 Solar Farms Totalling 80MWp to Equitix

Primrose Solar has announced that it has sold the remaining assets in its portfolio of operational solar farms to Equitix. The 80 MWp transaction includes sites attracting ROCs in the range 1.4 to 1.6, all accredited in 2014: Garn in Vale of Glamorgan (7.4 MWp), Race Farm in Dorset (6.1 MWp), Newton in Dorset (11.3 MWp), Nova Scotia in Norfolk (13.9 MWp); and Canworthy Solar Farm in Cornwall (41 MWp).

This concludes the disposal of Primrose’s solar portfolio, following the sale announced last week of 78 MWp assets to Greencoat Solar I and in January this year of 95 MWp to the Bluefield Solar Income Fund.

Since Primrose was founded in 2013, it has built 15 different ground-mount solar projects in England and Wales, totalling 253 MWp. Its sites have included some of the UK’s largest: Eveley in Hampshire at 49MWp; Southwick, also in Hampshire, at 48 MWp; and Canworthy in Cornwall at 41 MWp.

Giles Clark, CEO, Primrose Solar, said: “We are very pleased with Primrose’s track record - we have built 253 MWp of solar farms in just over three years. They are generating enough green electricity to power the equivalent of over 75,000 homes, making an important contribution to the UK’s renewable energy targets and reducing carbon emissions. All our projects implement best practice in screening, landscaping and biodiversity benefits.

“The sale of these last assets to Equitix, one of the UK’s leading socially responsible investors, means they will remain in good hands continuing to contribute to the UK’s sustainable future for many years to come. We would like to thank our advisors and contractors for their invaluable support, in particular Gowling WLG which has provided legal services on every transaction.

“This is a great note to end the year on, and while this deal marks the end of one phase for Primrose Solar we look forward to the new solar opportunities that 2017 and beyond will bring.”


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