London-based investment manager Downing has completed the acquisition of a 35-megawatt peak (MWp) operational solar park located in Lincolnshire, England, in a transaction valued at approximately GBP 28 million (USD 35.6 million / EUR 33.2 million), the company announced on Wednesday.
The ground-mount photovoltaic (PV) farm, which has been generating electricity since the summer of 2023, was purchased from NextEnergy Capital.
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Situated in Sleaford, the solar park is expected to produce around 36 gigawatt hours (GWh) of electricity annually. Downing's energy and infrastructure unit will manage the operations and maintenance (O&M) of the facility.
The solar project benefits from a 15-year contract for difference (CfD) with the Low Carbon Contracts Company (LCCC), indexed to inflation and set to commence in 2025.
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“We are immensely proud to announce the acquisition of this UK solar asset, which will contribute to further growth and diversification of our energy and infrastructure portfolio,” stated Sean Moore, Investment Director at Downing.
