Constructed by an acknowledged German solar developer, both PV projects were connected to the grid in March 2017. The acquisition of the PV projects come about in close cooperation with the German bank BayernLB acting as the financing partner of the transaction.

Obton's Chief Legal Officer, Mikkel Berthelsen, noted the following on the transaction: ""It is with great gratification that Obton has entered UK with a strong funding partner in BayernLB and two strong solar PV projects. We have definitely appetite for additional operational PV projects in UK. ""

The addition of the UK solar PV projects contributes to Obtons total solar PV portfolio of over 360 MWp to a total value of more than EUR 840m under management.

BayernLB as well is pleased with the transaction and adds: ""In cooperation with Obton, great professionalism, flexibility and promptness has been demonstrated throughout the process. At BayernLB, we are proud to be able to act as funding partner for the projects and look forward to more projects in the near future, "" says Eckhard Doose, Vice President at BayernLB.

Being the eight solar market for Obton, expectations for UK are great and efforts to further add operational solar PV projects to the portfolio has already been initiated. Earlier this year, Obton entered both the Dutch and Canadian markets with a pipeline of 3-4oo MWp over the next couple of years.