Solarcentury signs deal with Magnetar Solar for eight solar power developments in UK

Solarcentury has sold 71MW of its pipelined solar photovoltaic (PV) projects in the UK to Magnetar Solar.

The London-based Magnetar Solar has also assigned Solarcentury to build an additional 40MW of power capacity in the country.

The 71MW Solarcentury pipeline and 40MW Magnetar Solar pipeline comprise of four solar projects each.

Generation capacity of the Solarcentury projects acquired by Magnetar Solar ranges from 7MW to 28MW.

Solarcentury will be the Engineering, Procurement and Construction (EPC) contractor for all the eight wind power projects. It will also offer operation and maintenance services for the facilities, which have a combined generation capacity of 111MW.

The eight projects will receive 1.4ROCs under the Renewable Obligation (RO) scheme, if construction is completed by March 2015.

Magnetar Solar director Alan Shaffran said: "The government’s goal to increase the UK’s solar energy capacity and decrease its dependence on fossil fuels has made solar an extremely attractive market.

"We’re pleased to be partnering with Solarcentury to expand our solar energy portfolio and construct worthwhile solar projects such as these to help boost the UK’s solar industry."

Solarcentury CEO Frans van den Heuvel said: "With eight sites already under construction, the close working relationship we are forming with Magnetar Solar is a win-win for both companies and supports the urgent need to develop renewable energy sources to improve the UK’s energy independence."