Investor Octopus Renewables has acquired a 9.1MW portfolio of operational residential UK rooftop solar assets. The deal will complement its existing rooftop solar portfolios in the UK and France.
The newly acquired solar assets cover more than 2,700 rooftops across the UK, many in Manchester and Birmingham.
The deal is the second deployment from the £185 million Renewable Energy Income Partnership III (REIP III), following the recent acquisition of two UK onshore wind farms with a combined capacity of 16.8MW. REIP III is an institutional mandate that was announced earlier this year and is closed for further investment.
Octopus Renewables claims to have become the largest commercial solar energy investor in Europe in the last decade, as well as a leading UK investor in onshore wind and biomass. It manages more than £3 billion in renewable energy assets.
Octopus were advised by Spring Park Capital, Osborne Clarke and Everoze on the transaction.