Solar farms and ready-to-build projects change hands all the time, but you rarely see them advertised. Most deals are done privately, between developers, investors and their advisers. Here’s how a sale usually works.
Who buys and who sells
- Sellers: developers at ready-to-build, landowners who have gained consent, and owners of working solar farms.
- Buyers: investment funds, independent power producers, energy companies and larger developers.
The steps in a sale
- Get the paperwork ready. Land agreements, grid offer, planning consent, surveys and yield figures, all in one place (a “data room”).
- Approach buyers. A short summary goes out first. Buyers sign a non-disclosure agreement (NDA) before they see the detail.
- Offers. Interested buyers make an offer, usually a price per MW, often with conditions.
- Heads of terms. The main points are agreed in writing: price, payment stages, timings and conditions. Heads of terms are usually not legally binding.
- Exclusivity. The seller agrees not to talk to other buyers for a set period, often a few weeks to a few months.
- Due diligence. The buyer’s lawyers and engineers check everything (see below).
- Contracts and completion. The sale agreement is signed. Money changes hands, sometimes in stages.
Asset sale or company sale?
Most solar projects sit inside their own company, called a special purpose vehicle (SPV). There are two ways to sell:
| Asset sale | Company (share) sale | |
|---|---|---|
| What’s sold | The project itself: land rights, grid offer, consents | The company that owns the project |
| Contracts | Each one moved across, often needing consent | Stay in the company |
| Tax on the purchase | Stamp Duty Land Tax may apply to the land rights | Stamp duty on shares, usually 0.5% |
| Past liabilities | Mostly stay with the seller | Go with the company |
A company sale is often simpler, because the lease and grid offer stay where they are. But the buyer takes on the company’s history, so due diligence goes deeper. Take tax and legal advice early.
What due diligence covers
- Land: title, the option and lease terms, access and cable routes.
- Grid: the offer, its milestones, the connection date, costs and securities.
- Planning: the consent, its conditions and whether the challenge period has passed.
- Technical: layout, yield, ground conditions and the build cost estimate.
- Commercial: any power contracts, the company’s accounts and tax.
Gaps here slow a deal down or cut the price. A clean pack does the opposite.
Tips for sellers
- Start the data room early, while the project is being developed, not at the end.
- Know your grid milestones. Buyers will ask straight away.
- Be honest about risks. Surprises found in due diligence cost more than risks shared up front.
- Keep land and grid in step. The lease should last longer than the project needs.
What we do
We develop sites to ready-to-build and sell them to investors and developers, with land, grid and planning documents in one place. Buyers can also come in earlier, to fund or co-develop. Partner with us → · How solar farms are valued →
Sources
Facts last checked 12 October 2026. This is general guidance, not legal or tax advice.