SDCL Energy invests in 69 MW bundle of UK wind, solar, hydro assets

SDCL Energy Efficiency Income Trust Plc (SEEIT) has entered into a deal with United Utilities Group PLC (UUG) to purchase a 69 MW portfolio of operational on-site solar photovoltaic projects worth around GBP100 million (US$118.7 million). 

The assets, spreading across 70 sites in the Northwest of England, deliver on-site generated renewable energy directly to United Utilities Water Limited (UUW), the end consumer. UUW is the UK-listed water and wastewater company UUG operates.

In terms of overall generation, the renewable portfolio is made up of 90% solar PV, 9% wind, and 1% hydro. The portfolio benefits from long-term contracted cashflows and will start producing cash as soon as the assets are put to use.

The transaction, to be financed from SEEIT’s existing resources, is subject to customary approvals and is expected to be finalized in the next few months.