Oct 8 2014
sPower (Sustainable Power Group), a leading renewable energy provider, and Camborne Capital, a prominent UK solar developer, today announced their first joint-acquisition of a 7MWdc solar PV project from developer RGE Energy UK.
Declan Mackle, CEO of Camborne Energy Group, commented, “This represents another milestone in the Camborne/sPower development portfolio in what has been a busy month for project acquisition. We have built an attractive pipeline of quality assets which we are looking forward to building out in the coming months.”
The site, located in Ceredigion in the South of Wales, achieved planning permission in February. Construction will commence immediately to achieve accreditation before March 2015. Camborne is currently appointing an EPC contractor and will manage the build out process.
“The UK is the most attractive market in Europe at the moment with a stable investment climate and a favorable tariff incentive. It is a great place to do business and an exciting time to be involved in renewables in the UK,” said sPower CEO, Ryan Creamer.
Given the ambitious energy targets set by the UK government, the formal collaboration between sPower and Camborne is committed to supplying a large volume of sustainable and renewable energy to the UK energy mix. With ever-increasing concerns over blackouts, the accelerated deployment of renewable energy generation is essential.
Marcus Price, Managing Director of RGE Energy UK, said, “RGE has taken several sites through the planning process and these represent an attractive asset class to buyers like Camborne and sPower. We’re delighted to have closed this transaction with them so quickly and are looking forward to working together on further projects.”
Camborne and sPower were represented by Pinsent Masons LLP and RGE Energy UK by Wragge Lawrence Graham LLP.