NextPower UK ESG (NPUK), managed by NextEnergy Capital, has acquired its eleventh utility-scale solar project, the 18.5MW Locks Solar Farm, located in Hampshire, UK.
The project has successfully secured a Contract for Difference (CfD) under the allocation round 6 (AR6) auction, with a fixed solar price of around £50 per MWh, ensuring stable revenue for its full generating capacity.
This acquisition increases NPUK's diversified portfolio to 11 UK utility-scale solar and battery energy storage systems (BESS), bringing its total capacity to 515.5MW.
Once fully deployed, NPUK aims to reach approximately 2GW capacity, providing enough clean energy to power around 500,000 UK households annually and making a significant ESG impact.
NPUK remains on track to exceed its return and dividend targets, with dividends to date surpassing expectations. The fund has successfully raised £683 million, about 37% above its target, and is actively fundraising towards its hard cap. Several investors are in late-stage due diligence, with more capital expected to close soon.
Michael Bonte-Friedheim, CEO and founder of NextEnergy Group, commented: “NextPower UK ESG is the UK's leading specialist private solar fund, playing a crucial role in the UK's transition to net zero and strengthening energy security.” He added, “Since its launch in August 2022, the fund has successfully grown its portfolio, deploying over 63% of the commitments raised to date.”
