Aviva Investors has completed the acquisition of a UK 11.36MW solar photovoltaic portfolio from Zouk Capital. The assets were owned by Zouk Capital's Zouk Solar Opportunities Ltd (ZSOL) infrastructure fund.
The portfolio of residential solar PV includes 3,700 properties in the UK which were installed by Freetricity, a solar company that has also sold its interest in the portfolio to Aviva Investors as part of the transaction.
Financial details of the transaction have not been disclosed.
Ian Berry, fund manager, Infrastructure & Renewable Energy at Aviva Investors stated:
We see strong interest from clients in opportunities such as this, which combine Aviva Investors' expertise and innovative approach with the underlying positive features of the assets themselves - reduced energy bills for homeowners and social housing tenants through renewable energy generation.
Colin Campbell, partner, Zouk's Infrastructure team, commented:
We are delighted to have completed the sale of the second ZSOL portfolio, one of the largest portfolios of free residential roofs in the UK, to Aviva Investors. These portfolios are an excellent example of why distributed solar PV is such an efficient method of power generation, has a strong carbon benefit and provides fuel poverty relief.