Magnetar Solar and Solarcentury signs deal for developing eight solar projects in UK

2 February 2015 (Last Updated February 2nd, 2015 18:30)

Global solar energy producer Solarcentury has sold its 71MW pipeline of solar photovoltaic (PV) projects to Magnetar Solar in the UK.

Dunsfold

Global solar energy producer Solarcentury has sold its 71MW pipeline of solar photovoltaic (PV) projects to Magnetar Solar in the UK.

Under the deal signed by the two firms, Solarcentury will also develop an additional 40MW in the country for Magnetar Solar.

The 71MW pipeline comprises four Solarcentury projects which will have a varying capacity range, from 7MW to 28MW.

The 40MW Magnetar Solar pipeline also involves a proposal for constructing four projects, Solarcentury informs.

All eight projects have a combined generation capacity of 111MW. They are expected to be constructed by March 2015.

The projects will receive 1.4ROCs under the renewable obligation (RO) scheme, once they start commercial operations.

"The 71MW pipeline comprises four Solarcentury projects which will have a varying capacity range, from 7MW to 28MW."

As well as being the primary engineering, procurement and construction (EPC) contractor, Solarcentury will be responsible for operation and maintenance services at the eight wind power facilities.

Magnetar Solar director Alan Shaffran said: "The government’s goal to increase the UK’s solar energy capacity and decrease its dependence on fossil fuels has made solar an extremely attractive market.

"We’re pleased to be partnering with Solarcentury to expand our solar energy portfolio and construct worthwhile solar projects such as these to help boost the UK’s solar industry."

Solarcentury CEO Frans van den Heuvel said: "With eight sites already under construction, the close working relationship we are forming with Magnetar Solar is a win-win for both companies.

"The relationship supports the urgent need to develop renewable energy sources to improve the UK’s energy independence."


Image: 71MW Solarcentury pipeline features four sites from 7MW to 28MW. Photo: courtesy of Solarcentury.