AREF2’s purchase of Mount Farm in the West Midlands was completed in December 2016. However, the closing of the two additional projects, “Vine Farm” and “Rose & Crown,” in the East of England took place Jan. 26. The total capacity of these additions to the portfolio amounts to 100 megawatts of power.
For Armin Sandhövel, CIO for infrastructure equity at Allianz Global Investors, solar energy in the United Kingdom is an ideal addition to the portfolio.
“Regardless of any upcoming changes to the political fabric, we firmly believe in the long-term attractiveness of the British solar market. The purchase of these three solar parks is a perfect way to regionally diversify the AREF2 portfolio,” says Sandhövel.
In the past year, long-term electricity purchase agreements were negotiated for all three solar projects. The seller, BayWa r.e., will manage the commercial and technical business operations.
This U.K. solar portfolio is the third acq