JLL advises on the sale of a 45MWp solar development project
JLL’s Energy and Infrastructure Advisory team advises Engie Renewables Limited on the disposal of its pre-construction solar and battery co-location project
LONDON, 24 August – JLL’s Energy and Infrastructure Advisory team has advised Engie Renewables Limited on the disposal of its pre-construction solar and battery co-location project in north-east Lincolnshire. The project, which was acquired by Bluefield Solar Income Fund (BSIF) for an undisclosed sum, is ready-to-build and will enter construction during the next 6 months. As part of the transaction, BSIF has also acquired the underlying freehold to the project.
Marcus Peech, Director, Energy and Infrastructure Advisory, JLL, commented: “We are pleased to have advised Engie on bringing this transaction to a successful close with Bluefield. We view the Lincolnshire development as a high-quality project and its sale to Bluefield signifies a clear maturation of the market for co-located solar and storage assets.”
Engie had developed the project from inception which, once constructed, will boast an installed solar capacity of 45MWp plus a 25MW co-located battery storage system. It is anticipated the site will operate without subsidies, adding to the rapidly expanding fleet of UK subsidy-free solar installations.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.