China-based Solar Power Inc. (SPI) has entered into an agreement with U.K.-based RE Projects Development (REPD) to co-develop approximately 25 MW of photovoltaic projects in the U.K.
Under the terms of the agreement, SPI and REPD will co-develop sub-5 MW projects at various locations in South Wales, South East Midlands and Northern England. SPI anticipates that all of the projects may be completed and sold by the third quarter.
Additional projects will be added to the portfolio as REPD and SPI secure suitable project sites. The projects will have accreditation under the U.K.'s feed-in tariff scheme or Renewables Obligation Certificates (ROCs) at rates of 1.3 ROCs/MWh.