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NextEnergy Solar acquires two UK projects for £64.3m
StockMarketWire.com
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Solar power investor NextEnergy Solar Fund said it had acquired the UK-based Camden solar photovoltaic portfolio comprising two projects for around £64.3 million.
The assets included the 50 megawatt Grange project in Yorkshire and the 50 megawatt South Lowfield project in Nottinghamshire.
NextEnergy Solar said portfolio had a 15-year power purchase agreement in place, with brewing giant AB InBev, covering about 75% of the electricity to be generated over the life of the agreement.
One project was already energised and the second was expected to be energised during the second quarter of 2021.
'The Camden portfolio is an excellent fit for NextEnergy Solar and the PPA agreement with AB InBev provides long-term, reliable cashflows to the fund,' chairman Kevin Lyon said.
'The board is excited to partner with such a high-profile global company, helping them achieve their renewable energy targets.'
Story provided by StockMarketWire.com
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