The NextEnergy Solar Fund has acquired the rights to construct a 9.4MW solar farm in Cornwall.
NSEF will take full ownership of the company established to develop the Gover Farm site on the condition that performance and delivery target dates are met.
The £10.5 million purchase will qualify for 1.4ROCs. It is hoped that the provisional acceptance certificate for the project will be issued in August.
NSEF has now allocated 30% of its IPO proceeds across three sites totalling 22MW.
Speaking at Solar Media's Large Scale Solar UK Conference in late April, Abid Kazim, UK managing director, Next Energy Capital, laid out in no uncertain terms the quality of service solar asset buyers and investors should expect, and how to use performance management to attain that quality.