June 4 (Renewables Now) - UK infrastructure investment manager Ancala Partners LLP has offloaded its two portfolios of operational solar assets in the UK with a combined capacity of 97 MW.
The photovoltaic (PV) parks were sold to funds managed by London-based real estate investment firm Arjun Infrastructure Partners, Ancala said last week, without disclosing the value of the deal.
The particular portfolios consist of 21 solar parks with different locations across the UK. The development of the projects was financed by Ancala in 2016, which also took care of the plants’ operation and installed utility-scale energy storage systems at some of the sites. According to its website, the first portfolio, totalling 51 MW, comprises 11 PV plants, while the second one includes 10 facilities of 46 MW in total. All assets are supported by long-term financing, power purchase agreement (PPA) and inflation-linked renewable incentives.
“The portfolio has outperformed our business plan and will generate a significant return for our investors,” said Lee Mellor, partner at Ancala.