ET Solar Energy’s German subsidiary ET Solutions has sold its utility scale power plant to Lightsource Renewable Energy, a solar investor in the U.K.
The 8.4 MWp plant named Pyde Drove is located about 40 miles south-west of Bristol and was grid-connected on March 27th. It will be accredited under the 1.6 ROC scheme.
Commenting on this deal, Dennis She, president and CEO of ET Solar, said, “We are happy to work with Lightsource in the UK market. With the advantage of being a fully-integrated one-stop solution service, we are able to provide cost-competitive investment grade power plants for investors and funds in such mature markets like the UK.”
Lightsource opted for ET Solar because it has both bankable EPC service and products, said Nick Boyle, CEO of Lightsource. Both companies have plans to cooperate on many other projects in the near future, Boyle added.
Last week both companies signed a memorandum of understanding (MOU) on a collaboration of 50MWp power plants.