We have advised the Hamburg-based independent operator of solar and wind farms, Blue Elephant Energy AG (BEE), on the sale of their UK solar park portfolio. The portfolio has an installed capacity of 47,56 megawatt and was acquired by the London-based investor Elm Trading Group, who are advised by Alpha Real Renewables.
The portfolio was project financed by Bayerische Landesbank and consists of nine operational solar parks that were commissioned between December 2015 and March 2017. The solar parks are located in the regions of South Wales, Somerset and West Sussex.
With the sale of its UK portfolio, BEE has now withdrawn from the UK market. BEE’s press release notes that “the company is now no longer exposed to the ongoing Brexit discussions and GBP/EUR currency risk”.
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Lux Nova’s project lead, Nikola Zahariev, commented:
“It has been very rewarding to work with the BEE team on this sale, which is of transformational importance to BEE’s business. Having worked with the BEE management team for over 5 years, I am very proud to have advised them on yet another step of their successful journey. The transaction shows that the secondary market for good quality solar assets remains very competitive - and will continue to be so until significant new generation capacity is built out.”
