Lightsource Renewable Energy, a British solar energy company, has added 1.32 MWp of residential U.K. solar PV capacity to its portfolio following the purchase of 469 installations from Ecos Solar Nine.
In a deal valued at £2.3 million ($2.87 million), Lightsource has taken the first step towards building a large residential rooftop solar portfolio over the next five years. The firm, which is Europe’s largest solar company in terms of solar capacity deployed, will receive the FIT payments due on each of the rooftop installations, while managing their operations and maintenance (O&M) for the duration of each FIT term.
Lightsource currently has an O&M fleet of around 2 GW in Europe, and is seeking opportunities to add further domestic and commercial rooftop systems to its portfolio this year. Homeowners and businesses in the U.K. that already have a solar system installed can realize a cash lump sum from their existing installations by selling the rights to the FIT to Lightsource.
However, this latest acquisition is a bulk-buy of existing systems, averaging 2.8 kWp per rooftop. Real estate firm Strutt & Parker acted as facilitator in the deal.
“This latest portfolio acquisition marks an important step into our continued growth in 2017,” said Kareen Boutonnat, Lightsource COO. “We believe that decentralized energy is the future and offers consumers new levels of control, security of supply and value for money.”
Popular content
Boutonnat added that Lightsource has a pipeline of projects lined up for the coming year.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.