JLEN, the listed environmental infrastructure fund, has announced the acquisition of the CSGH Solar Portfolio for a total consideration, including working capital, of £12.2 million.The portfolio comprises four ground mounted solar parks with a total generating capacity of 33.5MW.
Higher Tregarne, located in Cornwall, has been operational since March 2014, has a generation capacity of 5 MW and is accredited for 1.6 ROCs. The other three solar parks, Crug Mawr, Golden Hill and Shoals Hook, are located in South Wales, have been operational since March 2015, have a total generation capacity of 28.5MW and are accredited for 1.4 ROCs.
JLEN has purchased the entire share capital of the holding company of the CSGH Solar Portfolio from sPower Holdings (UK) Limited.
The acquisition was funded by a draw-down under the Company's revolving credit facility and brings the total capacity of the renewable energy assets in the JLEN portfolio to 225.2 MW.