Jun 26, 2013 - Lark Energy plans to sell most of the 100 megawatts it has in permitted solar projects ahead of construction, its managing director said.
The developer expects to sell the projects, which include some of England's largest, to specialist solar funds, pension funds and banks, Jonathan Selwyn said in an e-mail. Lark will build at least half of them and may retain some equity, he said.
The projects highlight the surge in large-scale solar taking place in the U.K., which is driven by stable government support and cheap panel prices. More than 500 megawatts in photovoltaic plants larger than 1 megawatt will be installed this year, at least four times that of 2012, Bloomberg New Energy Finance forecasts show.
Lark expects all its permitted solar projects to be built before April 2014, Selwyn said. The cost of building a megawatt in the U.K. is currently about 900,000 pounds ($1.38 million), he said without revealing the development price.
The projects comprise solar parks with 14 megawatts to 35 megawatts in Suffolk, Norfolk and Lincolnshire, its website shows.