AlphaReal acquires 40MW UK solar farm

Investment manager AlphaReal has completed the acquisition of a 40MW newly commissioned solar plant in the UK.

AlphaReal has acquired Bubney Energy Centre Limited in Shropshire from an undisclosed global renewables developer.

The asset is the largest ground-mounted solar site in AlphaReal’s renewable energy portfolio.

The acquisition necessitated consultation regarding the site’s engineering, procurement and construction (EPC), operations and maintenance (O&M) as well as asset management (AM) contracts.

Raza Ali, Investment Director, Renewable Infrastructure at AlphaReal, said: “It was an interesting deal to negotiate because the site combined aspects of both greenfield and brownfield, but we have sizable experience in both areas for over a decade. The site is a strong addition to our £1bn portfolio of renewable energy assets.”

A new survey of UK pension funds and insurers that collectively oversee £359bn in assets, commissioned by AlphaReal, reveals 90% plan to increase their allocation to renewable energy in the next 12 months, while the remaining 10% say they might make increases.

More than half (54%) of UK pension funds and insurers surveyed say they invest in ground-mount solar energy.

Around 56% say they will increase allocations substantially in the next five years while 15% will increase slightly, and 14% will keep allocations the same.

Phillip Rose, CEO of AlphaReal, said: “Pension funds, insurers and other institutional asset owners are looking to increase their allocation to renewables, and our research suggests solar is amongst the most attractive asset classes for them.

“We are therefore delighted to increase our investment in solar which is playing a key role in the UK’s green energy transition.”