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.
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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."
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.
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By GlobalDataBernstorff 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.
