BlackRock and Lightsource BP pick up seven solar sites across the UK

by BPVA on 07 June 2018

BlackRock and Lightsource BP pick up seven solar sites across the UK

BlackRock Real Assets and Lightsource BP have bought seven new solar sites in the UK with a total capacity of 57 megawatts, Lightsource BP said in a statement today.

The two companies, through their £1bn Kingfisher partnership focused on solar investment, have confirmed the multi-million pound acquisition for the solar sites.

Rory O’Connor, managing director and head of renewable power for Europe at BlackRock, said: “We are delighted to add these acquisitions to our growing UK solar portfolio. Through our strategic partnership with Lightsource BP, we continue to build out our presence and portfolio of solar projects in the UK.”

The partnership was announced by BlackRock and Lightsource BP last year and was initiated for the purpose of acquiring UK solar power generation assets.

They have a target of achieving a total installed capacity of one gigawatt. To date around a quarter of that target has been achieved.

According to the Solar Asset Management Europe report commissioned by SolarPlaza, the Kingfisher partnership could be the third largest solar asset owner in Europe when the goal is achieved.

Paul McCartie, group chief investment officer of Lightsource BP, said: “Kingfisher continues to establish itself as a leading competitor for the secondary solar market.”

“This additional 57MW cements further our strong relationship with BlackRock and we look forward to continuing to acquire operational utility scale solar assets in the UK, consolidating the secondary solar market.”