Innova sells UK solar roof bundle to Octopus Renewables

• Innova Energy, part of UK renewables as well as property-focused exclusive equity company Innova Group, claimed today it has offered its business rooftop solar portfolio.

The portfolio, consisting of 57 rooftop-mounted photovoltaic or pv (PV) websites in the UK, was unloaded to an investment vehicle managed by UK renewables financier Octopus Renewables, which belongs to the Octopus Energy Group, after a competitive sale procedure.

Every one of the possessions in the portfolio receive feed-in-tariff (FiT) subsidy profits.

Financial information were not supplied.

According to an announcement by TLT, one of Innova's advisers on the sale, the size of the portfolio is 3.7 MW. It becomes part of 65 MW of UK ground-mounted and also rooftop solar assets that Innova has actually accumulated over the last 4 years. Innova is now trying to find "an appealing exit for its financiers."

Peter Dias, investment director at Octopus Renewables, said that the properties supply an appealing cash flow profile which the company plans to continue its growth in this field.