NextEnergy acquires second solar plant

9th May 2014 10:52

Energy-based service provider NextEnergy announced it has acquired a second operating solar plant totalling 6.3 megawatts (MW) for 7.98m pounds.The new Shacks Barn solar power plant which is located in Northamptonshire was energised in March 2013 and has been generating revenues since. The group said 7% of the payment will be withheld for up to one year and is payable based on the plant's performance and technical activities.Chairman Kevin Lyon said: "This second acquisition is a further step in deploying NESF's capital. Similar to our first acquisition, this plant has a lengthy operating history which enabled us to conduct effective due diligence and evaluate the quality of its construction, components and historical performance. "We now have one 2.0 ROC project and one 1.6 ROC project, and look forward to announcing further acquisitions in due course."As of 10:45, the share price was unchanged at 101.25p.WS