SPI Sells U.K. Solar Project To BlackRock Fund


China-based Solar Power Inc. (SPI) has closed the sale of its 6.4 MW Gelliwern Farm solar project in the U.K. to a fund managed by BlackRock Inc.

The solar farm, located in south Wales, commenced construction in the first quarter and was connected to the grid in March. The project is eligible to receive Renewables Obligation Certificates (ROCs) at 1.4 ROCs/MWh for 20 years under the U.K.'s renewables obligation scheme.

In June, SPI announced a definitive agreement for the sale of its Grange Farm solar project in the U.K. to BlackRock.

‘We are very pleased to work again with SPI and close on this investment in the Gelliwern Farm solar project, adding to BlackRock's significant investment program in the U.K. renewables sector,’ says Rory O'Connor, managing director at BlackRock.

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