NextEnergy Solar Fund buys 46.6 MWp of UK solar parks

NextEnergy Solar Fund Ltd (LON:NESF) said today it has acquired a portfolio of 10 solar parks in the UK with a combined capacity of 46.6 MWp.

The plants, all of which are generating electricity, were bought through a share purchase agreement with a single counterparty and represent an investment of GBP 52.9 million (USD 70m/EUR 60.2m). The largest facilities are the 13-MWp Fiskerton plant in Lincolnshire and the Thornborough Grounds and Sywell parks of 5 MWp each in Buckinghamshire and Northamptonshire, respectively. Two facilities of 4.9 MWp each -- the Temple Normanton in Derbyshire and the Brafield in Northamptonshire are also part of the portfolio, together with other plants with capacities ranging between 0.9 MWp and 4.8 MWp.

All assets were tied to the grid in 2016 and 2017 and are receiving subsidies under the Renewables Obligation Certificates (ROC) and feed-in-tariff (FiT) schemes.

NESF said it has previously acquired five solar power plants from the same vendor. Following the latest acquisition it owns 75 plants with an installed capacity of 622.7 MWp.

The solar investor noted it expects to announced further investments in due course.

(GBP 1.0 = USD 1.323/EUR 1.137)

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