Solar Markets & Finance

Solar Energy Scotland has welcomed the Scottish Government’s inclusion of solar energy systems in the non-domestic rates regime, announced in the Scottish Budget 2023-24 last week (15 December).

Community Energy England (CEE) has joined forces with Morrisons, M&S, Tesco and three of the UK’s biggest co-operatives – the Co-op Group, Central Co-op and MidCounties Co-operative – to urge the UK Government to prioritise unlocking additional renewable energy generation capacity, including solar.

NextEnergy Capital (NEC) has reported the second close of NextPower UK ESG (NPUK ESG) at £487 million – 97% of its £500 million target.

Global renewable company Low Carbon is set to develop a combined solar capacity of over 75MW across three sites after securing financing from NatWest, Lloyds Bank and AIB.

Renewable Power Capital (RPC) is set to work with UK battery storage firm Eelpower to develop 1GW of utility scale energy storage capacity in the UK.

The new windfall tax on electricity generators will not impact Atrato Onsite Energy, the company has announced.

Income investment company, Harmony Energy Income Trust plc has reported a fall in average revenue this quarter following record highs in Q3, but assured stakeholders there was a “positive near-term outlook” in its Net Asset Value (NAV) and Portfolio Update as at 31 October 2022.

As a result of the Autumn Statement and the introduction of the windfall tax, Bluefield Solar Income Fund has estimated that its audited NAV would have decreased by 3 pence per ordinary share (pps).

The solar sector has criticised the introduction of a windfall tax on electricity generators, which it has warned could have a ‘perverse’ impact on the sector.

Solar and energy storage specialist fund NextEnergy Solar Fund (NESF) has published its interim results as of 30 September 2022, which suggest that the new windfall tax will have a limited impact for its portfolio given its diversification.