Partners acquire Ceredigion solar site
A solar plant project which is set to be constructed in Ceredigion has been acquired by a joint venture between US-based sPower and Camborne Capital.
Planning permission was granted for the site in February and construction is expected to begin before March 2015. The companies purchased the project from London-based RGE Energy UK.
"The UK is the most attractive market in Europe at the moment with a stable investment climate and a favourable tariff incentive. It is a great place to do business and an exciting time to be involved in renewables in the UK," said sPower chief executive Ryan Creamer.
Camborne will now appoint an EPC contractor to carry out the work.
Declan Mackle, chief executive of Camborne Energy Group, added: "This represents another milestone in the Camborne/sPower development portfolio in what has been a busy month for project acquisition.
"We have built an attractive pipeline of quality assets which we are looking forward to building out in the coming months."
Marcus Price, managing director of RGE Energy UK, said: "RGE has taken several sites through the planning process and these represent an attractive asset class to buyers like Camborne and sPower.
"We’re delighted to have closed this transaction with them so quickly and are looking forward to working together on further projects."