NextEnergy Solar Fund has signed an agreement to acquire a 21.2-megawatt solar-power plant in Lagenhoe, Essex, northeast of London.
The company said it will pay US$34.3 million for the plant. The plant was connected to the grid on 4 March 2015 and will be accredited under the 1.4 Renewable Obligation Certificate.
NextEnergy will invest an additional US$4.7 million to expand the capacity of an operating 12.7-MW solar project by 2.6MW. The Bilsham plant is located in Sussex, with the first phase grid-connected in November 2014 and acquired in January 2015.
Bilsham Phase Two is to be accredited under the 1.4 ROC. The UK government will put a stop to subsidies for solar project with more than 5MW of capacity in April.