Solar and infrastructure investor NextPower UK ESG (NPUK) has energised its third utility-scale solar asset, increasing its operating capacity to 139MW.
The 24MW Pentlow project in Essex became the organisation’s third solar asset to be energised in the UK. NPUK has a portfolio of ten UK utility-scale solar assets with a combined capacity of 497MW.
NPUK’s other operational solar assets include the 75MW Llanwern solar farm in South Wales and the 40MW Strensham project in Worcestershire.
The remaining assets in the portfolio are either under construction or ready to build. The Fund most recently signed an EPC contract on its tenth acquisition, Hatherden, a 60MW solar and energy storage project in Hampshire, which has started construction.
Michael Bonte-Friedheim, NextEnergy Group CEO and founder, said: “I am delighted that the NPUK portfolio continues to deliver solid progress, Pentlow is a fantastic asset that has been energised on time to become the Fund’s third operating solar asset.
“The UK currently has c.16GW of operational utility-scale solar deployed of which NextEnergy Capital Funds account for over 1GW. I look forward to seeing further progress across the portfolio as NPUK’s other assets continue to energise and become a significant part of the UK’s clean energy mix.”
NextPower Capital confirms NPUK ESG raised c.£600 million from investors
Following NPUK’s strong opening year, NextEnergy Capital, headquartered in London, has been bolstering its global solar and storage pipeline.
In October 2023, NextPower confirmed NPUK’s total fundraising to be about £600 million. Its solar and battery energy storage-focused fund NextPower V ESG secured US$110 million (£85.75 million) in capital funding in March, including £77.9 million from a European pension fund.
