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ET Energy announced that it has built six solar power projects totaling 26 MWp in the United Kingdom on behalf of funds managed by Octopus Energy Investments. The plants were constructed on a turnkey basis, and were all successfully completed and producing energy by March 31st, 2017, meeting the deadline to be eligible for 1.2 Renewables Obligation Certificates (ROC).
ET Energy acquired the development rights to these projects during 2016 and sold them to funds managed by Octopus Energy Investments at the end of the year. A turnkey EPC contract was provided by ET Solutions, a subsidiary of ET Energy. The six projects, all ground mounted PV sites, are situated in different locations across England, Wales and Scotland.
One of the project package was built on a dormant landfill site in Wales, which presented ET Energy with added design, engineering and construction challenges, but they were successfully overcome.
Dennis She, President and CEO of ET Energy, said, "With these six UK solar projects, we have demonstrated again that we are capable of delivering high quality, investment grade solar project assets. They represent another example of our execution capabilities, as well as the success of our transition into the downstream segment of the market."
Matt Setchell, head of Octopus Energy Investments, said, "The 1.2 ROC subsidy cliff made this a challenging project. As ever the March deadline placed pressure on construction timetables. Our solar experience, together with ET Energy's development and construction capabilities, proved a successful combination. We're pleased to add these projects to our continually growing clean energy activities."