Lightsource to provide O&M to Vortex’ new 365 MW solar portfolio in UK
Post date: 10/01/2017 - 21:11
UK-based PV power plant developer and operator Lightsource Renewable Energy Ltd. will provide long-term operations and maintenance (O&M) and asset management services to Vortex. The renewable energy platform managed by Arabian EFG Hermes’ private equity arm has entered into a sale and purchase agreement to acquire a solar PV portfolio owned by Terraform Power Inc., US yieldco of bankrupt Sunedison Inc.
As reported, Terraform’s subsidiary Terraform Power Operating, LLC will sell its portfolio of 24 operating solar projects in the United Kingdom representing 365 MW. The transaction is valued at approximately $580 million and is expected to close in the first half of 2017.
According to Lightsource, since its inception in 2010, the company has managed more than 180 utility scale assets across England and Wales.