Emel Solar Limited, a renewable energy development and advisory boutique, announced the sale of Wirsol's 105 MW portfolio of solar projects located throughout the UK to a unit of Rockfire Capital.
The 19 solar sites, each ranging between 2.5 MWp and 20.5 MWp, have a total capacity of about 105 MWp. Cumulatively, the portfolio produces enough energy to generate almost 100 gigawatt hours per year. This is sufficient to supply power to about 30,000 households in Great Britain and corresponds to a saving of almost 60 tons of carbon dioxide per year.
Emel worked with Wirsol to market the portfolio and help identify the right financing partner. The deal was completed in two months, according to Rockfire chief executive Liam Kavanagh, who said the company was also upping its deal pipeline. The completion of the deal takes Rockfire's assets to 300MW of installed solar PV capacity across ground-mounted and rooftop installations. Other recent investments include the acquisition of a solar PV array at a Rolls Royce site in Bristol and the procurement of Swindon Solar Park in September 2016.
Mark Hogan, managing director of Wirsol, added: "I am very pleased to have concluded these acquisitions with Emel and Rockfire over a relatively tight timeline. Everybody involved worked effectively and with enthusiasm to conclude this important transaction. Wirsol Energy are already engaged in acquiring and building out significant solar pipelines in the UK and Australia and we hope to continue a positive and effective relationship with Emel and Rockfire accordingly."
"We are happy that we were able to successfully close the deal in a relatively short time frame, and we hope to expand upon this partnership in the UK, Australia, and elsewhere", said Mike Lambros, Director of Emel Solar.
(Photo: Emel Solar's Grange Farm located in Linconshire, UK. Source: Emel Solar)