VH Global Sustainable Energy Opportunities (GSEO), a London-listed investment trust, has invested £50 million ($69 million) to acquire a portfolio of distributed solar generation assets in Australia.
The investment will be split into two deployment tranches; the first will be for £15 million ($21 million) and involves the acquisition of two operating solar photovoltaic sites totaling 17 megawatts DC, in South Australia and Queensland.
Both solar PV generation assets combine merchant sales and long-term corporate power-purchase agreement revenues, as well as large-scale generation certificates.
In addition, GSEO will seek to add battery storage capacity at both sites. GSEO said the strategy aims to provide greater access to clean and dependable energy in remote load centers and will help to accelerate the energy transition in Australia.
The deployment program will focus on remote sites that are typically located close to clusters of commercial and indust
