20th October 2017
Innova Energy has completed the c.£6 million purchase of Malmpit Solar Farm, a 5MW ground mounted system in Codford, Wiltshire. The site was purchased from the landowner, who had developed the project with assistance from Longspur Capital. The solar farm was commissioned in March 2016 and benefits from a 1.3 ROCs government-backed subsidy. The transaction
included the formulation of an innovative grid sharing agreement.
Innova Capital were instrumental in the structuring of an innovative grid sharing agreement with a neighbouring Anaerobic Digestion plant, as well as the overall transaction management. The solar array will save c.1,850 tonnes of CO2 per year and produce enough electricity to power over 1,150 homes.
Mr Robin Dummett, Co-founder and Director of Innova Energy commented:
“The development of an innovative grid sharing agreement demonstrates Innova Energy’s appetite to seek creative solutions in order to enhance investor returns.”
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