Greencoat Solar Acquires Islip And Springhill Solar Farms
Greencoat Capital LLP has announced the acquisition of Islip and Springhill solar farms from DIF Infrastructure III. Greencoat is acquiring 100% of both assets for its Greencoat Solar II fund.
Islip and Springhill are two 5MW solar farms located in Northamptonshire and Gloucestershire respectively. Both plants have been operational since 2011 and were acquired by DIF in 2013.
To date, Greencoat Solar has invested Â£670m into 64 UK solar generation assets totaling 489 MW of capacity, and has more than Â£1.1bn committed to its funds.
Lee Moscovitch, Partner at Greencoat Capital, said: "We are delighted to have acquired these high quality assets, and continue to see significant opportunities in the solar secondary market."
Greencoat was advised by PWC (Tax), Eversheds Sutherland (Legal) and Evergy (Technical). DIF was advised by Elgar Middleton (Finance) and Pinsent Masons (Legal).