Eco Energy World has sold its majority shareholding in a new advanced solar project to AVIC International (Aviation Industry Corporation of China.)
The renewable energy group, which operates from offices in London and Monaco and has established several hundred MW of solar projects and programs throughout Europe up to now, has sold 90 percent of its stake in the 12 MW Spriggs Farm solar project located near Saffron Walden, Essex, holding the remaining 10 percent share.
Eco Energy World took the project into planning, development and construction during 2013. The project has been confirmed to start operating in the spring.
The farm will create enough clean energy to power roughly 3,800 homes every year and will also carry a CO2 saving of more than 6,100 tonnes per year.
Chairman, Svante Kumlin of Eco Energy World commented saying “We are pleased to have completed this deal with AVIC International. Securing such investment reinforces our position in the UK and European renewable energy industry and allows us to focus our attention on developing further sites.”
“We currently have 15 other projects across the UK which are at various stages of the planning process. We believe these sites, like Spriggs Farm, are ideally situated and will help make a significant contribution to helping the UK meet its renewable energy targets and lessen our reliance on rapidly-diminishing fossil fuels”
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