Innova sells on roof PV portfolio to Octopus Renewables

• Innova Energy has actually contended the sale of its portfolio of 57 commercial roof solar PV assets in the UK.

Sold to a financial investment automobile managed by Octopus Renewables, every one of the solar installments take advantage of feed-in tariffs.

The sale is an essential milestone for Innova, the firm said, with the business having actually aggregated a 65MW portfolio of UK solar assets over the last four years.

The affordable sale process highlighted continued solid market need for lasting subsidies as well as inflation-linked cashflows, stated Innova's investment supervisor Denis Sorkin.

" We were delighted to have actually dealt with Octopus and also their partners Zestec Asset Management on this deal, which delivered a superb overall return on these assets for Innova."

In November 2020, the company signed a joint venture with ReneSola Power to create a pipeline of energy scale solar in the UK, intending to proceed the advancement of an existing 50MW pipeline as well as extending it by at the very least an additional 50MW over the following couple of years.

Octopus Renewables, on the other hand, lately revealed it is to get a portfolio of 5 Irish solar websites with an anticipated combined ability of as much as 250MW from Statkraft.

Peter Dias, financial investment supervisor at Octopus Renewables said the company intends to proceed its expansion in the roof PV sector, having a solid pipe of possibilities for new construct and acquisition with Zestec.