DIF Capital Partners, together with ib vogt, has agreed to acquire a 100% interest in the largest UK co-located solar and battery portfolio from Cero Generation and Enso Energy, the companies confirmed.
The fund manager will acquire a ready-to-build co-located solar and battery portfolio from Enso Green Holdings Limited (EGHL), a joint venture established between Cero Generation and Enso Energy. The DIF acquisition will be secured via DIF’s Infrastructure VII fund which is set to secure a 90% interest.
The portfolio is recognised as the UK’s largest co-location portfolio of solar and battery energy storage, consisting of seven sites and a total capacity of 720MW. Of this, 380MW is solar and 340MW is battery energy storage. Solar EPC and O&M services will be provided by construction engineering company ib vogt.
The acquisition of each project will be completed once each site has reached the ready-to-build phase with the first two having already been acquired and currently under construction. It is hoped that all projects acquired by mid-2023 will be operational between 2024 and 2026.
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The projects will also be able to benefit from forthcoming contracts for difference (CfD) contracts or power purchase agreements (PPAs) with corporate or utility offtakers.
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