NextEnergy Capital's NPUK ESG, a UK-based solar fund focusing on subsidy-free projects, has surpassed its fundraising target, securing GBP 653 million (USD 835 million / EUR 772 million) in commitments, the company announced on Monday.
Launched in December 2021, NPUK ESG has garnered strong support from LGPS (local government pension scheme) investors, including recent additional funding from London LGPS CIV Ltd. The UK Infrastructure Bank provided GBP 250 million in cornerstone match-funding capital.
“The fund's strategy has aligned really well with that of the LGPS community and it's great to see so many LGPS investors backing renewable energy assets here in the UK,” commented Shane Swords, Managing Director and Head of Investor Relations at NextEnergy Capital.
NPUK ESG specializes in acquiring utility-scale solar and battery storage projects in the UK, with its current portfolio nearing 500 MW, including operational and construction assets.
