May 21, 2020 / 8:37 AM / 6 days ago

Greencoat Capital to buy solar portfolio from Blackrock, Lightsource BP

LONDON (Reuters) - Greencoat Capital has agreed to buy a 156 megawatt (MW) portfolio of solar assets in Britain from investment management firm BlackRock Real Assets and solar energy developer Lightsource BP, it said on Thursday.

The portfolio’s electricity output will supply around 45,000 homes a year. Financial details of the deal were not disclosed.

BlackRock’s Global Renewable Power team has a 90% stake in the portfolio through its partnership with Lightsource BP, which maintained a 10% stake. Greencoat will acquire 100% ownership.

Lightsource BP will continue to provide ongoing asset management and operational services.

“This is a brilliant portfolio of proven operational assets that will provide our clients predictable cashflows with inflation protection over the long term, whilst contributing to the decarbonisation of the UK’s electricity sector,” said Karin Kaiser at Greencoat Capital.

Reporting by Nina Chestney; Editing by Mark Potter

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