February 11 (Renewables Now) - NextEnergy Solar Fund Ltd (LON:NESF) today said it will pour up to GBP 20 million (USD 25.9m/EUR 22.8m) this year in commercial rooftop photovoltaic (PV) projects under a partnership with Zestec Asset Management Ltd.
The parties have signed a framework agreement that will see Zestec develop and build PV plants on commercial properties, while NextEnergy Solar will offer power purchase agreements (PPAs) to the landlords at preferential prices, with terms ranging between 15 and 25 years. Projects commissioned before April 1, 2019 will get a 20-year retail price index (RPI) feed-in-tariff (FiT) payment.
As much as GBP 5 million of the total GBP 20 million will be allocated for the initial phase of the project early this year.
NextEnergy Solar will be able to buy already operational plants and to fund the construction of new ones, according to the agreement.
(GBP 1.0 = USD 1.293/EUR 1.142)