Obton Take Bold Step Into UK Solar Market
Denmark-based renewables investor and asset manager Obton has announced it has entered the UK solar market by acquiring two PVplants with a combined capacity of 9 MWp.
Obton has bought one 4.9-MWp solar park and one 4.1-MWp facility, both of which were built by a German solar developer and hooked to the grid in March 2017. German bank BayernLB was Obton's financing partner in this transaction.
The purchase provides the Danish investor with presence in its eight solar market. The company said that it is already working on adding more UK solar plants to its local portfolio. Obton's total solar PV capacity now exceeds 360 MWp. The portfolio includes assets under management surpassing EUR 840 million (USD 1bn) in value.
At the end of last year the company announced the acquisition of French independent power producer Coruscant. The deal involved the acquisition of 30 MWp solar projects in operation, with another 20 MWp under construction. The acquisition played a key part of Obton's growth strategy in France where the ambition is to expand the existing portfolio by 100-200 MWp in the coming years.
This was one of the largest deals in Obton's history.