Greencoat completes acquisition of solar portfolio from Allianz Global Investors

Greencoat Capital LLP has completed the acquisition of the 99.1 MW solar portfolio consists of three solar projects in UK from Allianz Global Investors.

The assets were bought on behalf of the Greencoat Solar II, a fund managed by Greencoat Capital, for over GBP1 billion (US$1.29 billion). 

The deal involves the 46 MW Vine Farm solar project in Hertfordshire, the 30 MW Rose & Crown in Cambridgeshire, and the 23 MW INRG solar plant in Worcestershire. The three projects have been commissioned in March 2016 and benefitted from 1.3 ROCs.

Milbank LLP has advised Allianz while Eversheds Sutherland is the advisor of Greencoat for the deal.