Eco Energy World has sold its majority shareholding in a new solar project to AVIC International.

The renewable energy company, which operates from offices in London and Monaco and has developed several hundred MW of solar projects across Europe to date, has sold 90 per cent of its stake in the 12 MW Spriggs Farm solar project situated near Saffron Walden, Essex, retaining the remaining 10 per cent share.

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Eco Energy World took the project through planning and construction during 2013. The project is set to begin operating this Spring. Spriggs Farm will generate enough clean energy to power approximately 3,800 homes each year and also delivers a CO2 saving of more than 6,100 tonnes per annum*. Svante Kumlin, Chairman at Eco Energy World, said: “We are pleased to have completed this deal with AVIC International.

Securing such investment reinforces our position in the UK and European renewable energy industry and allows us to focus our attention on developing further sites. “We currently have 15 other projects across the UK which are at various stages of the planning process. We believe these sites, like Spriggs Farm, are ideally situated and will help make a significant contribution to helping the UK meet its renewable energy targets and lessen our reliance on rapidly-diminishing fossil fuels.”

Source: http://ecoenergyworld.co/index.php/spriggs-farm/