Low Carbon and Macquarie to develop two solar projects

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Low Carbon and Macquarie to develop two solar projects

UK Renewables investment company Low Carbon and infrastructure developer Macquarie Capital are to develop two UK solar project totalling 34MW under the second phase of a tie-up.

The facilities in Wiltshire and East Anglia will start operations in the first half of this year and will have capacities of 13MW and 21MW respectively.

The move represents the launch of the second phase of the companies' collaboration to deliver a UK PV portfolio of 300MW, as announced last year.  Macquarie is financing the construction of the plants.

The first phase covered two sites in Cornwall and one in Wales and is on track to deliver 26MW in the first half of 2014, Low Carbon said.

Low Carbon chief executive John Cole said:

"We've hit the ground running in 2014 and are excited to get another two sites into construction from this investment."

Mark Dooley, head of development capital at Macquarie, added that the funding of the two new schemes demonstrates the "effectiveness of the partnership model"  that has been developed.

He added:

"Macquarie's funding solution has enabled the Low Carbon team to continue to focus on developing and preparing projects for investment, while allowing Macquarie to deploy capital quickly and efficiently into high quality renewable energy investments."

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