SPower (Sustainable Power Group) and Camborne Capital today announced their first joint-acquisition of a 7MW dc solar PV project from RGE Energy UK.
Declan Mackle, CEO of Camborne Energy Group, commented, "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."
The site, located in Ceredigion in the South of Wales, achieved planning permission in February. Construction will commence immediately to achieve accreditation before March 2015. Camborne is currently appointing an EPC contractor and will manage the build out process.
"The UK is the most attractive market in Europe at the moment with a stable investment climate and a favorable tariff incentive. It is a great place to do business and an exciting time to be involved in renewables in the UK," said sPower CEO, Ryan Creamer.
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."