UK's Innova Divests 12-MWp Scottish Solar Asset to AlphaReal

UK-based renewable energy developer Innova announced on Thursday the sale of its fully permitted 12-MWp Park Hill Energy Extension solar project in Scotland to investment firm AlphaReal.

The project, situated near Arbroath, expands the existing 4-MWp Park Hill Solar facility. Innova had acquired, optimized, and sold the original site to AlphaReal in 2022.

In September 2024, the Park Hill Energy Extension project was awarded a Contract for Difference (CfD) during the UK’s sixth allocation round (AR6). Five other solar projects developed by Innova also received CfDs in the same round, providing long-term revenue linked to inflation.

Daniel Mushin, Chief Investment Officer at Innova, noted that the transaction reflects the company's continued activity in renewable energy development and its emphasis on cooperative project development.