A solar farm in Somerset has gone up for sale, with offers coming in at over £1.5m.
Puriton Solar Farm is an operational 4.5MW solar farm at Puriton, Bidgwater. The farm spans 12.67 hectares of grade three agricultural land and has an average annual generation of 3,975 MWh.
Selling agent Savills is quoting offers over £1,560,000. The lease was entered into during 2011 and runs until 2048. The lease comprises the full extent of the freehold and the rent is a fixed payment linked with RPI annually.
Henry Grant, of Savills Energy, said: “This sale represents an opportunity to invest in a long term, fixed inflation linked income with sustainable credentials."
Mr Grant continued: "This sale represents an opportunity to receive an inflation linked rental income for the lease term which runs until 2046. It will also contribute towards any sustainability requirements an investor or company may have."
Puriton Solar Farm is currently owned by the NPL Group. Together with UK renewables experts Anesco, NPL realised the installation of the solar farm on the former Puriton cellophane landfill.
The land, located in Somerset, enjoys a south facing aspect maximising the generation levels. The 11 MW project went live in 2016.
Read next:
Cornwall Council to receive £22m of government funding to develop green energy site
Bristol Airport begins solar farm project on airfield as part of ‘net zero’ plans
Offshore wind powering almost half of UK homes, says Crown Estate
Cero Generation and Enso Energy open UK's first transmission-connected solar farm
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
