UK Power Networks Services expands renewables portfolio through acquisition

UK Power Networks Services is expanding its portfolio of renewable energy assets with the acquisition of UU Solar from SDCL Energy Efficiency Income Trust LLP (SEEIT).

The deal involves UK Power Networks Services taking ownership of 70 solar, wind, and hydro energy plants, which generate 68.7MW of electricity for United Utilities Water (UUW). The portfolio is supported by a long-term Power Purchase Agreement with UUW.

The addition of these assets is part of UK Power Networks Services' strategy to enhance its portfolio, which has historically included the management of significant asset portfolios for clients involved with critical national infrastructure.

David Mitchell, Director of UK Power Networks Services, stated, “Our vision is to deliver sustainable, reliable energy and we see this renewables portfolio as a natural fit. Our long-term objective is to grow our technology and geographic footprint in the renewables sector.

“We have been building our capacity in this sector in recent years and recently delivered one of the largest solar car ports in the UK. This acquisition has been carefully negotiated to achieve a good price and is another example of us investing in large portfolios of key renewable UK assets.”

That solar carport that David referred to is located in Morpeth, Northumberland, which you can read more about here.