Lightsource buys solar installations for £2.3m

Lightsource Renewable Energy has bought a portfolio of residential solar installations for £2.3 million. It includes 469 projects across the UK from Ecos Solar Nine. Under the agreement, Lightsource will […]

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By Priyanka Shrestha

Lightsource Renewable Energy has bought a portfolio of residential solar installations for £2.3 million.

It includes 469 projects across the UK from Ecos Solar Nine.

Under the agreement, Lightsource will receive Feed-in Tariff (FiT) payments from the installations and will manage the maintenance of the systems for the length of the FiT term.

The company says it is looking to “substantially invest” in its residential rooftop portfolio in the next five years.

It has launched a buyback scheme that allows businesses and householders to get a cash lump sum for their existing rooftop solar installations.

Kareen Boutonnat, COO at Lightsource said: “We believe that decentralised energy is the future and offers consumers new levels of control, security of supply and value for money.”

Lightsource has deployed more than £2.4 billion of solar assets in Europe and manages 1.7GW of operational projects.

The company has also joined forces with EDF Energy for a new “smart home” energy trial.

Last year, it launched the largest floating solar farm in Europe.