12th Sep 2014 07:40
LONDON (Alliance News) - NextEnergy Solar Fund Ltd Friday said the Ellough solar power plant has been given 1.6 Renewable Obligation Certificate accreditation and said the total value of the acquisition has increased to GBP19.4 million.
NextEnergy said all energy produced since the commissioning of the plant in March this year would be remunerated under the 1.6 ROC scheme, with all revenues to be retained by NextEnergy.
Under the Renewable Obligation Certificate trading scheme, the rate of payment is governed by the type of technologies used. Ground-mounted solar plants will receive 1.6 ROCs per megawatt hours under the scheme.
In line with the terms of the acquisition of Ellough, NextEnergy will pay an extra GBP1.4 million, taking the total consideration to GBP19.4 million, as the plant was accredited under the 1.6 ROC regime rather than the 1.4 ROC regime.
Shares in NextEnergy Solar Fund were untraded in early trade on Friday, quoted at 105.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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