These projects are large-scale photovoltaic systems that supply locally generated green electricity into the UK national grid. Located at four different locations across the South and South West of England, the installations have been built under the Renewables Obligation (RO) subsidy regime.
The four solar power stations refinanced are as follows: Little T (5.4MW); Marley Thatch (6.2MW); Newlands (4.3 MW); and Tavells Farm (5.4MW). Collectively constructed for dual use over 150 acres, these solar farms also enable sheep grazing around the panels as a form of farmland diversification. Lightsource will also create operation and maintenance jobs locally to where their solar farms are based.
Paul McCartie, structured finance director at Lightsource, said he expects transactions such as these will become the norm as the predictable investment return that solar power provides proves increasingly attractive. "As our industry matures, we hope to see a significant uptake in solar power and perhaps the development of more independent power suppliers, bringing a competitive edge to the energy market," he stated.
Lightsource is the UK's leading developer and operator of solar farms with in excess of 316 MWp of operating solar power capacity in the UK across 250 sites. Earlier this year, Lightsource announced a deal with JinkoSolar to supply 18.5MWp of solar PV modules for a solar farm project in the UK.