Today, Conergy, one of the largest downstream solar companies operating globally, announces the sale of a portfolio of sites to Luxcara, a leading asset manager for renewable energy investments.
Conergy UK Limited, the United Kingdom branch of Conergy, sold five sites to Luxcara by end of December 2015 — a portfolio totaling 34.4 MW and worth approximately £40 million. Conergy’s United Kingdom team developed and constructed all five solar projects, and will continue to operate and maintain the projects for Luxcara. All sites were completed on time and grid-connected between December 13, 2015, and December 20, 2015.
“During the last two years Conergy successfully executed 35 solar projects with a total capacity of around 287.6 MW in the UK and has taken a leading market position,” said Alexander Gorski, Chief Development Officer of Conergy. “Conergy’s fully integrated business model which includes project development, engineering, procurement, construction as well as operations and maintenance provides significant synergies and benefits along the value chain and delivers the best results. In combination with Conergy’s strong balance sheet, access to capital and our global footprint we are able to provide attractive turn-key solutions to investors like Luxcara globally.”
Alexandra von Bernstorff, Managing Partner of Luxcara said: “We are very happy having acquired an attractive project portfolio from Conergy in the UK. The Conergy team has developed and constructed all sites at the highest quality standard which is key to secure our long-term returns. The operating portfolio will provide a positive long-term impact to the environment and the community.”
The sites are uniquely regenerative for the community. They provide an environmental turnaround for the land they were built on: retired coalmines and exhausted farmland. In the coming year, greenery will be planted around the solar panels to encourage the growth of plant species and increase biodiversity. Three sites, in addition
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to the normal commercial set up, will provide an additional benefit to the community in the form of an annual income. This income will be donated to key organizations in the local community, for the purpose of enabling them to use renewable energy.
In Q1 2016, Conergy UK will build and connect a further four sites under the Renewables Obligation Certificate (ROC) accreditation tariff. In Q2 2016, Conergy UK will build another two projects under the UK government’s Feed-in-Tariff Scheme. These two projects will also be built for Community Interest Companies (CIC), in which profits will benefit the community.
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