Renewable Energy Generation (REG) has sold its 4.5MW ground-mounted solar project at Goonhilly Downs in Cornwall for £5.7million.
The transaction with asset managers BlackRock encompasses an upfront consideration of £5.0million and contingent deferred consideration of up to £0.7million. It is the third sale under REG’s partnership with BlackRock, established in 2013.
The company will continue to manage the solar farm under a long-term asset management agreement, with the proceeds from the sale set to be reinvested in REG’s renewable assets.
“Our relationship with BlackRock continues to generate shareholder value for REG, with our well-managed renewable energy projects remaining attractive investments,” said Andrew Whalley, REG’s chief executive.
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