ET Solar Energy completes sale of solar PV plant in UK

Smart energy solutions provider ET Solar Energy has completed the sale of ground-mounted solar photovoltaic plant to UK-based Lightsource Renewable Energy.

The transaction was completed by ET Solutions, a German subsidiary of ET Solar Energy.

Located about 40 miles south-west of Bristol, the Pyde Drove solar plant has a capacity of 8.4MWp. It was connected to grid on 27 March 2014, and will be accredited under the 1.6 ROC scheme.

ET Solar president and CEO Dennis She said, "With the advantage of being a fully-integrated one-stop solution service, we are able to provide cost-competitive investment grade power plants for investors and funds in such mature markets like the UK."

Lightsource CEO Nick Boyle said, "We made the decision to work with ET Solar because it has both bankable EPC service and products, and we firmly believe this project is the first of many projects our two companies will develop together in the very near future."

ET Solar commenced construction of the 8.4MWp solar project in March 2014 after obtaining project rights from a local developer.

She then said, "With our EPC execution and financing capabilities, we are well positioned to further grow our business in this new market."

To achieve its target of 80MWp in the UK this year, ET Solar intends to acquire another 8.4MWp project.

Last week, ET Solar and Lightsource have entered into a memorandum of understanding (MOU) for 50MWp power plants.

ET Solar offers turnkey solutions services, solar modules and PV balance of system components, and operates sales and marketing subsidiaries and offices in Asia, Europe, North America and South America.

Established in 2010, Lightsource has 600MW of operational solar assets, and has a workforce of over 280.