NextEnergy Capital, a London-based renewables manager and infrastructure investor, announced on Wednesday the acquisition of an 18.5-MW ready-to-build solar project located in Hampshire, South East England.
The transaction, conducted through NextPower UK ESG (NPUK), marks the fund's 11th utility-scale solar investment, bringing its total portfolio capacity to 515.5 MW.
The Locks Solar Farm, which secured a fixed-price Contract-for-Difference (CfD) in the UK government's sixth allocation round, is set to provide long-term revenue stability for its generation capacity. The CfD contract ensures a fixed price for the entire output of the project.
In July, NPUK exceeded its initial GBP 500 million (USD 632.4 million/EUR 601.4 million) fundraising target by securing GBP 683 million in commitments. The fund is also receiving late-stage due diligence from several investors and expects additional capital inflows in the coming weeks.
As of this summer, NPUK's portfolio comprised nearly 500 MW, with 75% of the assets either operational or under construction.
