Quercus snaps up 254 MW of UK solar projects

Dec 3, 2013 - Luxembourg-based infrastructure investor Quercus Asset Selection said Monday it had agreed to acquire 254 MW of solar projects in the UK, valued at more than GBP 300 million (USD 491m/EUR 363m).

Under the deal, the buyer, which focuses on investment in the renewable energy segment, will take possession of 21 solar schemes from UK engineering firm Progressum. The projects will be developed in the south-centre of the UK next year. Spanish contractor Bester Generacion will be in charge of construction, Quercus said.

Once constructed, the photovoltaic (PV) facilities will become part of Quercus Renewable Energy Fund II, which will be managed by Quercus Assets Selection.

Quercus’ investment follows the acquisition of a 14-MW solar park in Cornwall in November, which is also under construction. The plant is to be hooked to the grid by March 2014.

(GBP 1.0 = USD 1.637/EUR 1.209)

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