Belltown Alpha Renewables has completed the acquisition of a 10.2MWp solar project in Somerset and a 500kW wind project in Wales.
Belltown Alpha Renewables was formed in May 2013 as a joint venture between Belltown Power and Alpha Real Capital, which has committed an initial GBP50m to fund the acquisition and construction of 30MW of wind, solar PV, hydro and biomass assets in the UK.
“We are very pleased to have completed our first two transactions ahead of our business plan,” says Belltown Power chief executive Michael Kaplan. “The opportunity to build small and medium scale renewable energy projects in the UK remains attractive. We have a strong pipeline and these first two assets will form the cornerstone of the diversified portfolio of UK renewable energy generating assets we will build over the coming years.”
Phillip Rose, chief executive of Alpha Real Capital, says: “Alpha is delighted that the joint venture is making such good progress towards providing our investors with the long-term real returns available from renewable energy assets.”
