FIM kicks off the New Year with its latest renewable energy assets acquisition.
Oxfordshire based FIM, a leading independent renewable energy investment manager, has expanded its operational ground mounted solar portfolio with the successful acquisition of two 5 Megawatt (MW) solar parks, East Appleton and Stripe.
The new acquisitions increase the number of solar assets managed by FIM to six (circa 30MW), and FIM’s total renewable energy portfolio under management to 137MW.
The adjacent East Appleton and Stripe solar parks, located in Richmondshire, North Yorkshire, became operational in March 2016 and are accredited for 1.3 Renewable Obligation Certificates (ROCs).
Expected to generate over 9,500 Megawatt hours (MWh) of renewable energy per annum, the two new sites are sufficient to provide power for approximately 2,250 homes and save over 4,000 tonnes per annum of CO2 emissions from fossil fuels.
Both acquisitions were entirely funded with equity.
Dr Wayne Cranstone, FIM’s Chief Operating Officer commented, “We are delighted to start the New Year on a high with the acquisitions of East Appleton and Stripe. Having completed these two acquisitions, we are now looking for additional assets to acquire with the surplus equity from our recent fundraising”.