NextEnergy inks UK solar contracts
- Two PV projects totalling 86MW were successful in the 4th Contracts for Difference Allocation Round
NextEnergy Solar Fund has entered Contracts for Difference arrangements covering 86MW of UK solar energy.
The CfDs, protected last month, are for 100% of the generating capacity of Whitecross (36MW) as well as Hatherden (50MW), the company's most recent new-build UK solar projects.
The CfDs last for 15-years, are index linked to inflation (CPI) annually, and also are arranged to commence from 31 March 2025 at the AR4 solar PV strike rate of ₤ 45.99/ MWh (set in 2012 equivalent prices).
Whitecross solar farm is presently under construction in Lincolnshire and also is expected to be energised in the initial quarter of 2023.
Grid connection and building and construction mobilisation works are underway for Hatherden solar farm in Hampshire, which is anticipated to be energised in the very first half of 2023.
NextEnergy Group UK taking care of director Ross Grier claimed: "The inclusion of solar PV in AR4 demonstrates the significance of this resource of clean power generation to the transition to net zero and we are delighted to have actually protected CfDs for NESF via the competitive auction process.
" By providing long term revenue security for the new solar plants, the CfDs enhance NESF's ongoing shipment of attractive, risk-adjusted returns for investors whilst likewise achieving inexpensive price safety for energy consumers.
" Our capability to protect CfDs even more underscores our market-leading position in the UK solar industry."
