Lumicity sells UK solar projects with build value of £200m to Conergy

British renewable energy developer Lumicity has sold its portfolio of UK solar projects to Wirsol Solar UK, a subsidiary of the Conergy Group, one of the world’s largest downstream solar companies.

The portfolio has an estimated build value of £200 million (US$340 million).

The portfolio consists of a number of projects with planning approval, a number having been submitted for planning and the remainder in advanced stages of development. The Conergy Group intends to develop and build the projects, which could add 166MW in new clean power generation capacity to the UK grid.

Lumicity is a developer of solar and biomass projects in the UK, and has developed solar projects with a combined power output of 62MW. In biomass, the company continues to build on its recent success, a record 30MW transaction with Bernard Matthews, the largest portfolio of UK biomass projects to date.

Tristan Fischer, Chief Executive Officer of Lumicity, stated:

Partnering with Conergy is great news for Lumicity’s customers and will ensure the projects will be built quickly and to the highest standards.

Alexander Gorski, Global COO, Conergy Group, stated:

Lumicity has a strong record in the development of renewable energy projects, and the deal will support the Conergy Group as it expands its development pipeline in the UK. As they are completed, the projects will add significant new capacity to the UK grid, supporting efforts to increase renewable energy power generation.