Impax Asset Management Sells Largest Operational Dutch Solar Farm

(Alliance News) - Impax Asset Management Group PLC on Monday said it has sold the Vlagtwedde ...

Alliance News 25 January, 2021 | 11:01AM
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(Alliance News) - Impax Asset Management Group PLC on Monday said it has sold the Vlagtwedde solar farm, the largest operational solar photovoltaic farm in the Netherlands.

Impax Asset Management invests in assets and companies positioned to benefit from the transition to more sustainable global economy. Its shares were up 2.1% at 876.00 pence in London on Monday morning.

The Vlagtwedde farm was sold by a renewable energy infrastructure fund, managed by Impax Asset Management, for an undisclosed sum. It was sold to German pension fund Versicherungskammer Group, under funds managed by Encavis Asset Management.

Vlagtwedde is the largest operational solar farm in the Netherlands and was acquired by Impax Asset Management in August 2019 from Dutch developer Powerfield. A construction contract from UK-based contractor SolarCentury was integrated into the deal.

Vlagtwedde is a 110 megawatt peak solar farm consisting of 350,000 panels and covering an area of 100 hectares, equivalent to 130 football pitches. It is expected to generate power for around 30,000 households and was constructed in approximately 12 months.

Hector Boyce, associate director within the Impax Private Equity/Infrastructure Transaction team, said: "As long-term specialist investors in the renewable energy sector, this project is part of our investment philosophy to contribute towards the transition to a zero-carbon economy in Europe. From the outset, the project has been developed in close cooperation with local parties with whom we have had a great experience.

"Delivering the project on time and within budget despite the global pandemic is testament to our team's strong industrial skill-set. We look forward to building on our platform in the Netherlands and making further investments in this space."

By Anna Farley; annafarley@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Impax Asset Management Group PLC 457.00 GBX -1.30 -

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