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The UK’s largest co-located portfolio of solar and battery storage projects has been sold in a deal led by PKF Francis Clark.
Cero Generation recently finalised the sale of the seven sites, with a total capacity of 720MW, to DIF Capital Partners and ib vogt, who are now raising finance to fund the construction phase. The portfolio was developed by Cero’s joint venture with Enso Energy, Enso Green Holdings Ltd. The disposal of each project within the portfolio will be completed once each site reaches the ready-to-build stage.
Renewable energy specialists at PKF Francis Clark, including Richard Harris and Andy Thornhill, acted as lead corporate finance advisers to Cero Generation.
We look forward to seeing these projects making an important contribution to the UK’s clean energy transition.
Richard Harris, corporate finance director, said: “As lead sell-side advisers, we ran the sales process from start to finish, including strategic decisions about the transaction structure, drafting key transaction materials and helping our client to select the preferred bidder from a strong list of offers which we received. This highly competitive sales process once again demonstrates the strong appetite we are seeing from a wide range of investors in UK renewable energy assets.
“We’re delighted to have achieved this positive outcome for Cero Generation, who have done an excellent job in bringing the portfolio to the ready-to-build stage, and we look forward to seeing these projects making an important contribution to the UK’s clean energy transition as they become operational over the next few years under the stewardship of DIF Capital Partners and ib vogt.”
Cero Generation is a leading renewables platform working across Europe to support the transition to a net-zero future. Its 11GW development portfolio is one of the largest in Europe.
Marta Martinez Queimadelos, CEO of Cero Generation, said: “We are delighted that DIF and ib vogt will be taking forward this sizeable portfolio into the next phase of its lifecycle. They will be continuing our work with Enso Energy following the development of the projects from conception through planning, and successfully to ready-to-build. This portfolio will make a significant contribution to the UK’s efforts to achieve net zero by 2050, with the co-location of solar and battery storage playing a key role in the de-carbonisation of the grid.”
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