An investment fund focusing on large-scale solar projects has agreed to buy a solar farm in Norfolk for £17 million.
The farm of solar panels on an agricultural site near Hardingham is expected to start generating power in December and will be one of the largest in the region.
Bluefield Solar Income Fund – which has £130 million to splash on the renewable energy source – is snapping up the project which UK firm Solarcentury is building.
Mike Rand, a managing partner at Bluefield Partners, the fund’s investment advisor said: “Bluefield is delighted to announce its decision to allocate funds to this large scale project. The project was selected by Bluefield due to the exceptional track record of Solarcentury…. The project represents a first step in a growing partnership with the contractor.”
Solarcentury will guarantee the performance of the plant for a period before taking over the operation and upkeep of the plant under a separate agreement.