Wirsol Energy Announces Two Solar Parks To Complete Before RoC Demise
Wirsol Energy has announced that it has agreed terms for the acquisition of two solar parks totalling 42.5MW to be constructed under the Renewable Obligation schemes for connection before April 2015.
The first project, which is already in construction, a 12.75MW project located in Wiltshire. The second a 29.75MW project located in Oxfordshire. Following on from the project acquisition, both are being sold to Bluefield Solar Investment Income Fund Ltd. ("BSIF") .
"We are pleased with these solar acquisitions, both sites have been acquired from experienced developers with whom we have a growing and ongoing relationship, additional projects in the pipeline. We are equally pleased to be working with Bluefield as our exit investment partner of choice. Wirsol have good experience with Mike Rand and the team at Bluefield, we share a common strategy and vision as to how business should to be conducted" said Mark Hogan, Managing Director of Wirsol Energy Ltd.
"Aside from these immediate investments, we plan on further project acquisitions and in-house development which will be rolled out under both RO and Contract for Difference investment schemes. We are in the process of building a substantial and sustainable pipeline into 2015 and beyond."
Peter Vest, managing Director of WIRCON added, "We are pleased to be building these parks in the UK, the intended acquisitions are an endorsement of our previous announcements and the strong financial backing of our major shareholder, Dietmar Hopp, who is completely committed to our business enterprise both here in the UK and Germany. Our alliance with Bluefield on these first two parks was seen as a natural step given the history and experience of both parties, I am sure there will be more to follow as we build our respective businesses".
Mike Rand, a partner at Bluefield Partners, the Investment Advisor to BSIF commented, "The acquisition of these two parks forms a key part of the portfolio we are expecting to invest under the 1.4 ROC regime to March 2015. Having worked previously with the team at Wirsol we are confident in their experience to deliver high quality solar parks and the ongoing operations and maintenance thereafter".
