China's ReneSola sells 6.4-MW UK solar farm to Foresight
UK solar park. Author: Robert Pittman. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Chinese photovoltaics (PVs) maker ReneSola Ltd (NYSE:SOL) Thursday said funds managed by Foresight Group have purchased its 6.4-MW Field House solar park in the UK.
The utility-scale PV plant, which is equipped with the vendor’s Virtus II modules, was hooked to the grid in March 2015. The facility has qualified for 1.4 Renewables Obligation Certificates (ROCs) per MWh.
“With current total existing projects of nearly 90 MW, we expect to monetize our downstream project portfolio while seeking new project opportunities to develop, build and transfer,” ReneSola CEO, Xianshou Li, noted. During the first quarter of 2015 alone, the firm hooked to the grid 57.5 MW of PV capacity in the UK.
In turn, independent infrastructure and private equity investment manager Foresight Group’s solar portfolio includes 35 plants with a combined capacity of over 400 MW. The value of the latest deal remained undisclosed.