Martifer Solar, a Portugal-based fully-integrated player in the global photovoltaic market, has completed development of a 4.27 MW PV plant in the United Kingdom for Smartenergy Renewables AG.
Located near Exeter, the Francis Court solar plant is part of the portfolio of projects being developed by Martifer Solar in the United Kingdom.
After fully developing the 4.27 MW PV plant, Martifer Solar has sold the project rights and will complete the engineering, procurement and construction and subsequent operation and maintenance services. Based in Zurich, the investor, Smartenergy Renewables AG, develops smart investment solutions within the renewable energy field and manages a portfolio for institutional and private investors.
The Francis Court PV plant, expected to be completed by the end of February 2015, will be installed on an area of approximately 86,000 m2. The 4.27 MW plant is expected to produce an estimated 4,169 MWh/year. With this production capacity, the plant will offset 1,907 tons of carbon dioxide annually, which is sufficient energy to power more than 2,340 inhabitants per year.
“This achievement for the Francis Court project drives forward our experience and successful track record as an established Developer in the UK. Our team has built and developed a strong portfolio of more than 100 MW of PV projects to suit both the ROC and CfD schemes,” stated João Cunha, director of Martifer Solar UK, “In addition to this, working together with investors such as Smartenergy Renewables helps to increasingly provide smart and innovative financial solutions to implement projects within our industry.”
The plant will be built using 14,364 polycrystalline modules from Smartenergy Renewables´ recently acquired and upgraded factory in Germany. The cooperation between Martifer Solar and Smartenergy shows how the two companies worked together not only to enforce a strong partnership, but also to add value along different facets of the solar value chain and advance the implementation of innovative financing solutions in the industry.
“Due to the strength of our team and recent strategic acquisitions, Smartenergy Renewables has a clear advantage to add value and provide smart solutions along different parts of the solar value chain,” said Horst Hadi Mahmoudi, chairman and CEO of Smartenergy Renewables AG. “We rely on partners with strong, proven capabilities and experience in the market, such as Martifer Solar, in order to leverage and apply our smart business model and maximize yields for our investors.”
In addition to the realization of the Francis Court project sale, Martifer Solar continues to successfully move forward with its development efforts in the UK market with the recent attainment of planning consent for an 8 MW project, called Hill Farm, in the South of Wales.