Rame Energy has launched a solar energy subsidiary for the UK market with plans to initially own and operate up to four UK rooftop photovoltaic projects with a total potential capacity of 120 kW.
The first two projects will provide power under a 20-year power purchase agreement which has been entered into with an agricultural business for dairy related processes and one of Europe’s largest indoor motocross arenas.
Qualifying for feed-in tariff support under the UK government scheme, construction of the first project has now commenced and the first three projects are expected to be operational by October 2015. It is estimated that the Projects will cost, in aggregate, approximately £180,000 ($281,000) to construct.
Tim Adams, CEO, commented: ‘Whilst we are launching with four initial projects, we believe there is scope to greatly add to this UK PV portfolio. We have consciously put in place a corporate structure which will allow Rame to efficiently manage these and future assets from both a financial and operational perspective.’