METKA EGN, a joint venture between Greek companies MYTILINEOS and the EGNATIA Group, focused on development and construction of utility scale projects for the global solar power and energy storage markets, announced this week a new successful transaction with London based solar power company Lightsource BP to sell four operational solar photovoltaic power projects in the United Kingdom, with total capacity of 18 MW.
#MYTILINEOS announces the successful transaction between its subsidiary METKA EGN and Lightsource BP, on the sale of four fully operational solar #photovoltaic power projects in the UK, with total capacity of 18 MW. https://t.co/2NQjem2tOw pic.twitter.com/3TpljZ92sM
— MYTILINEOS (@MytilineosSA) March 26, 2018
The four solar projects were developed and constructed by METKA EGN to meet the 31 March 2017 deadline, and subsequently received accreditation under the 1.2 Renewable Obligation Certificate (ROC) program.
METKA EGN’s recently formed project development team lead by Fabio Spucches was responsible for development and structuring of the projects, while the turn-key engineering, procurement, and construction (EPC) contracts were carried out by METKA EGN’s well established, London based, project execution organization.
Construction finance was provided by METKA EGN, and non-recourse project finance for the projects was concluded post-completion by Lightsource BP.
Nikos Papapetrou, CEO of METKA EGN stated:
“This successful transaction represents a great example of our end-to-end project development and execution capabilities, focused on high-quality, investment grade projects. We are delighted that this transaction was concluded with Lightsource BP, our major partner. Our international project development pipeline continues to grow and we are very optimistic on the prospects for this growing segment of our business.”
Nick Boyle, Group CEO of Lightsource BP stated:
‘We are pleased to be adding 4 operational PV power projects to our rapidly expanding portfolio. Our in-house, strategic asset management and operation and maintenance teams will ensure these sites perform to optimum standard. This transaction affirms our competitive pricing in the market and we look forward to completing further transactions with solar asset owners like METKA EGN across the UK.”
Source: Press Release by METKA EGN. Photo Credit: METKA EGN.