Luxcara acquires two solar projects in the UK from Conergy

21 June 2016 (Last Updated June 21st, 2016 18:30)

European asset manager for renewable energy investments Luxcara has acquired a further two solar projects in the UK from German company Conergy.

European asset manager for renewable energy investments Luxcara has acquired a further two solar projects in the UK from German company Conergy.

On completion, the plants will be able to generate a total output of 19.5MW.

Luxcara's managing partner Dr Alexandra von Bernstorff said: "We have succeeded in acquiring another attractive project portfolio from Conergy.

"Both projects will be connected to the grid in June 2016 and receive a feed-in tariff. This means a stable, long-term contribution to the overall fund portfolio is guaranteed for our investors."

"On completion, the plants will be able to generate a total output of 19.5MW."

Of the two projects, the Welsh Manor Farm generates an output of 9.5MW, while the farm in Laceby in the north-east of England has a total output of 10MW.

The two plants are long-term subsidised projects with a fixed feed-in tariff (FIT), which is made possible by a Community Interest Company (CIC), a special non-commercial enterprise allowing the local community to participate in profits generated by the respective plant.

Bernstorff added: "Our many years of expertise, solid network and strong reputation mean we enjoy the broad market access we require to identify high-quality, sustainably profitable renewable energy projects and acquire them for our investors.

"The fund launched in September 2015 currently has a subscription volume of €170m and 80% is already invested in assets following the latest acquisition. We are in the process of negotiating further transactions."

The third fund Solar and Wind is a sub-fund of the Flaveo Infrastructure Europe SCS SICAV-FIS partnership and is exclusively for institutional investments through subordinate bonds, securitisations, and direct investments.