NextEnergy hits 150MW UK PV target

• 35.5 MW Whitecross project in Lincolnshire as well as 50MW Hatherden site in Hampshire schedule online in 2022

NextEnergy Solar Fund has reached its development target of 150MW of subsidy-free solar in the UK, through authorizing 2 projects amounting to 85MW.

Both projects being prepared for building and construction and are anticipated to be energised in very early 2022.

The assets have an approximate investment value of ₤ 45m and also comprise Whitecross, a 35.3 MW project in Lincolnshire and also Hatherden, a 50MW project in Hampshire.

Next Energy Solar Fund has actually selected Whitecross as well as Hatherden from its development portfolio based upon the possessions' "eye-catching projection financial returns" and their relative near-term energisation.

The fund is now aiming to divest any residual development danger as well as has agreed to divest 16 development projects (not in building and construction or in operation) from its subsidy-free pipe.

The identified projects will be offered to a subsidiary of NextPower Development.

The divestment amounts to a consolidated factor to consider of ₤ 5.6 m.

This adheres to NESF's statement in May 2020 regarding the sale of two subsidy-free projects under development (not in building and construction or in operation) with an ability of 115MW to NextPower for a consolidated complete factor to consider of ₤ 11.5 m.

NextPower and its subsidiaries are under the typical control of the broader NEC Team along with NextEnergy Capital Limited (Investment Advisor to NESF) and also NextEnergy Capital IM Limited (Investment Manager to NESF) and also thus are related events of the firm.