NextPower UK ESG has energised two UK utility-scale solar assets with a combined generation capacity of 130MW.
The renewable energy investment fund, which NextEnergy Capital manages, has successfully brought the 70MW Inkersall project and the 60MW Crifton development online, bringing the portfolio’s operational capacity to 318MW. Both projects are located in Nottinghamshire, and both successfully secured Contracts for Difference (CfDs) in Allocation Round 4 (AR4), which took place in July 2022.
NextPower UK ESG currently holds 16 assets in its development portfolio with a total capacity of 764MW across both utility-scale solar and battery energy storage system (BESS) assets. The fund has stated that it will energise three more UK assets across this summer to bring its total operational capacity to 419MW; these are the 21MW Chapel Solar project, the 13MW Bindwell solar project, and the Hatherden development, which will combine a 60MW solar PV power plant with a 7MW co-located BESS.
Commenting on the energisations at an opening ceremony at the Inkersall solar PV power plant, Ross Grier, chief investment officer at NextEnergy Capital, said that the energisations “underlines [the firm’s] leadership in delivering clean, secure, and sustainable energy for the UK”. He added that the firm is “perfectly positioned” for future investment and encouraged institutional investors and UK pension funds to “continue building a cleaner, more resilient energy future for our communities.”
NextPower UK has forged a significant presence in the UK solar sector. In March of this year, it closed its final fundraising close almost 50% over target, bringing in £733 million. Of this, the UK’s National Wealth Fund was named the “cornerstone” investor, contributing £250 million on a match-funding basis, with several UK government pension pools also taking part in this funding round.
Later that same month, NextPower UK acquired the Mere Flates project from Finnish renewables investor Korkia. The project, located in Yorkshire, features a 56MWp solar PV power plant plus a 16MW co-located BESS, and is at the ready-to-build phase of development.
The previous year saw the fund make headlines too; in October 2024, NextPower UK ESG signed one of the biggest recorded sleeved power purchase agreements (PPA) for the Llanwern solar power plant in South Wales. Anglian Water Services signed a 20-year inflation-linked deal with NextPower UK ESG, covering 90% of the electricity from the project and any associated Renewable Energy Guarantees of Origin (REGO) certificates.
