NextEnergy Solar Fund (NESF) has purchased two new UK solar farms, including its first with an industrial power purchase agreement in place.

The asset holder has acquired the 5MW Gilley’s Dam solar farm in Cornwall and the 3.6MW Pickhill Bridge project in Wrexham, taking the group’s portfolio of operational solar assets to 548MW.

NESF has paid a total investment value of £10.1 million for the two assets, and Gilley’s Dam is a first for the company.

The project is the first project acquired by NESF to be backed by a long-term, take-or-pay PPA with an industrial counterpart. While the identity of the counterpart has not been disclosed, NESF did say the project is located in the ground of an industrial company which has entered into a PPA until 2040.

Under the terms of the deal the company will purchase all the electricity generated by the project on a take-or-pay basis. The site also benefits from 1.3 ROC accreditation having been connected in March 2016.

Pickhill Bridge meanwhile was connected to the grid in March this year and is accredited at 1.2 ROCs.

NESF has already highlighted its ambition to make considerable moves in the UK solar market over the next year, including both primary and secondary solar assets.

It is chasing additional built asset purchases to consolidate its position as one of the leading asset holders but, perhaps most notably, has also committed to developing subsidy-free solar sites in the UK within the next 12 months