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£60M investment in five UK solar farms

Five UK solar farms have secured new funding worth £60M from investor M&G.

The sites operated by Primrose Solar have a total installed capacity of 80MW, and generate enough electricity to power approximately 18,000 average homes.

Four of the sites have been operational since March 2014 and are located in Dorset (two), Glamorgan, and Norfolk.

The fifth site at Canworthy Water in Cornwall was connected to the grid in December 2014. It has a capacity of 41MW and is the largest solar site in the UK, covering 81ha of farmland.

Giles Clark, chief executive at Primrose Solar, said: “We are very pleased to complete the refinancing of five solar farms.  Securing long-term financing from a major institutional investor such as M&G is a strong endorsement of the quality of these sites, and of our commercial arrangements.”

Primrose, which was formed in November 2013, has 175MW of solar projects either operating or under construction.

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