Trina buys 50MW UK PV project
China’s Trina Solar has agreed to buy a 49.9MW PV project in eastern England from developer Good Energy.
Good Energy – a UK producer and distributor of clean energy – said it will receive between £3.4m and £6.8m ($5.7m-$11.4m) in cash for the project near Fakenham, Norfolk.
The seller told its investors: “The net profit on sale received by the Company for the development of the site will be between £1.4m and £3.8m depending on when the site is completed and commissioned.”
The sale was made following a competitive tender, it added.
Good Energy received final consent in January to develop 49.9MW on a disused airfield at West Raynham. The plant should supply about 11,200 homes in the area.
Downstream project development is a key part of the strategy of Trina Solar, the world’s second-largest supplier of PV modules last year.
The Chinese group has previously identified the UK as a key market.
The UK sector is currently embroiled in a row with the government over plans to withdraw support early for large-scale developments under the Renewables Obligation scheme.
Large PV arrays in future will have to compete with other renewable sources for a share of government support.