Solar Power Inc., a unit of China’s LDK Solar, is planning to develop 25 megawatts of photovoltaic projects in the UK with RE Projects Development.
The two companies have signed an agreement to co-develop sub-5 MW projects at various locations in South Wales, South East Midlands and Northern England. These projects will be located at sites that enjoy favourable radiation conditions and have accessible connection to the grid.
Solar Power Inc. said it anticipates that all of the projects may be completed and sold by the third quarter of 2015. Additional projects will be added to the portfolio once additional sites are identified. “SPI believes these projects will be keenly sought after by investors, as they will have accreditation under the UK’s Feed-in-Tariff scheme or Renewables Obligation Certificates at rates of 1.3 ROCs/MWh,” the company said.