Solar developer, SPI has acquired the rights to develop and operate over 30MW of solar projects in the UK.
The developer agreed the deal with an unnamed ‘London-based global renewables developer’ to develop, finance, construct, own and operate two solar projects which total 30.5MW. The deal also includes an option to develop an additional 50MW of capacity in the near future.
The company’s chairman, Xiaofeng Peng, described the acquisitions as a “significant step forward for SPI in the UK solar market”. The company added that the deal helps progress its attempts to grow its presence in “key global PV markets”.
SPI has identified the UK as one of the most important global PV markets. Peng explained: “The UK is one of our key geographic focus markets, and we will continue to invest globally where SPI sees potential for attractive returns on invested capital.”
HK Cheong, chief operating officer, SPI, also talked up the potential of the UK solar market, stating: “We believe the UK offers some of the most compelling investment opportunities globally for solar project development that have strong potential for generating meaningful return on investment.”