Ingenious Sells UK PV Parks To Magnetar
Ingenious Clean Energy has announced the sale of a portfolio of operational solar photovoltaic parks to Magnetar Solar (UK) Ltd.
The operating portfolio is composed of five projects ranging in size from 7MW to 24MW, with a total peak power capacity of 64MW. Four of the five assets were developed and constructed by Anesco Limited, and the largest of the solar farms (the 24MW project known as Stowbridge) was developed by AGR Renewables Limited and constructed by Hanwha QCells. Baiju Devani and James Durnall led on the transaction for Ingenious.
"We are very pleased to complete the successful sale of our operating solar portfolio to Magnetar Solar," said Sebastian Speight, Managing Director of Ingenious Clean Energy. "With this transaction now complete, we can now focus on our expanding activities in developing, constructing and acquiring further renewable generation assets."
"The government determined that solar energy needs to be a significant component of the UK's mix of energy sources, and it has developed a strong market to support that goal," said Alan Shaffran, head of Magnetar's fixed income business in Europe. "We're excited about the opportunity to invest in the UK market, adding to our solar portfolio. We view this business as an attractive source of stable returns."
