Investment firm buys 66.8MW of new UK solar

Nextenergy Solar Fund’s new purchase nets it 10 solar facilities worth a total of £58.3m

By Jonny Bairstow

A specialist investment company has bought 10 operational UK solar plants with a combined capacity of 66.8MW.

Nextenergy Solar Fund (NESF) has signed and completed a share purchase agreement for the acquisition of the facilities in Dorset, Cornwall, Somerset, Hampshire, Wiltshire and Devon – the portfolio has a long-term debt facility amounting to £58.3 million in place across all assets.

All 10 sites were connected to the UK grid between 2012 and 2014 with the help of government subsidies, including six sites with renewable obligations certificates and four with feed-in-tariffs.

The new purchases increase the firm’s solar portfolio to 85 assets with a total capacity of 689.4MW, worth around £890 million.

NESF is also pleased to announce the closing of a Revolving Credit Facility of £40 million with Santander.