Three projects are covered by the deal – a 49.9MW facility in England and two in Scotland totalling 26MW.
Elgin Energy group managing director Ronan Kilduff said: “This transaction underpins our strong relationship with Mytilineos and is further evidence that solar PV has established itself as a cost-effective utility-scale renewable technology.
“With the fastest installation times of any renewable energy technology, solar PV is now uniquely placed to speed up the UK’s drive to decarbonise its electricity grid and meet its ambitious target of net zero carbon emissions by 2050.”
RSD business unit general manager Nikos Papapetrou said: “We are pleased to partner with a progressive solar developer like Elgin Energy where our significant experience and engineering capability can help successfully integrate more renewable power to the UK grid.
“The acquisition of these projects will also consolidate our position in the UK market.”
Elgin Energy delivered 21 solar projects, totalling 230MW, under the UK government’s Renewables Obligation Certificates scheme before it ended in 2017.
The company has continued to originate and develop projects across the UK and currently has a portfolio of 62 projects in late stage development, with a combined capacity over 2GW.
Kilduff said: “We have always been confident that solar PV would become a cost competitive utility scale energy technology and therefore continued to develop projects across our core markets. This transaction with Mytilineos reinforces that view.”
