SEP achieves successful exit from Solarcentury
- Date Published
Statkraft, Europe’s largest generator of renewable energy, has signed an agreement to acquire solar power pioneer Solarcentury ,which is backed by Scottish Equity Partners (SEP), for a purchase price of £117.7 million. Together the companies are well positioned to become one of the world’s leading renewable energy companies.
Solarcentury is internationally renowned for developing and building some of the largest utility-scale solar power projects in the UK, Europe and Latin America including the world’s first solar bridge at Blackfriars Station in Central London and Talayuela, one of the biggest and most powerful subsidy-free solar developments in Spain. Since SEP invested, the London based company has grown substantially and now employs over 180 people across 12 countries.
Gary Le Sueur, who has led SEP’s investment in Solarcentury and has been a member of the company’s board of directors, said: “Solarcentury has played a significant role in making solar power mainstream and we are delighted to have worked with the company’s management team in expanding the business internationally. We wish them continued success as they embark on their partnership with Statkraft and further accelerate the global deployment of solar energy.”
The transaction is conditional upon regulatory and local competition approvals and is expected to complete by the end of 2020.