AlphaReal, the investment manager, has successfully finalized the purchase of a recently commissioned 40-megawatt solar facility in the United Kingdom. The acquisition involves Bubney Energy Centre Limited in Shropshire, acquired from an undisclosed global renewables developer.
This solar site represents the largest ground-mounted installation within AlphaReal’s renewable energy portfolio. The transaction required careful consideration and negotiations concerning the site’s engineering, procurement, and construction (EPC), operations and maintenance (O&M), as well as asset management (AM) contracts.
Investment Director, Renewable Infrastructure at AlphaReal, Raza Ali, commented “It was an interesting deal to negotiate because the site combined aspects of both greenfield and brownfield, but we have sizable experience in both areas for over a decade. The site is a strong addition to our £1bn portfolio of renewable energy assets.”
A recent study commissioned by AlphaReal, examining UK pension funds and insurers responsible for a combined £359 billion in assets, indicates that 90% of them intend to boost their investment in renewable energy over the next year. The remaining 10% express the possibility of making increases.
The survey also highlights that 54% of the surveyed pension funds and insurers in the UK are involved in ground-mount solar energy investments. Looking ahead, 56% plan to significantly increase their allocations in the next five years, while 15% aim for a slight increase, and 14% plan to maintain their current allocations.
CEO of AlphaReal, Phillip Rose, added “Pension funds, insurers and other institutional asset owners are looking to increase their allocation to renewables, and our research suggests solar is amongst the most attractive asset classes for them. We are therefore delighted to increase our investment in solar which is playing a key role in the UK’s green energy transition.”
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