NextEnergy Solar secures 86 MW of projects in UK CfD auction

Llanwern solar farm. Image by NextEnergy Capital Group

August 3 (Renewables Now) - NextEnergy Solar Fund Ltd (LON:NESF), the listed investment company managed by NextEnergy Capital Group, said today it has won 86 MW of solar power capacity in the UK’s latest contracts for difference (CfD) auction.

The company has secured support for 100% of the generation capacity of its 36-MW Whitecross and 50-MW Hatherden photovoltaic (PV) parks in Lincolnshire and Hampshire, respectively. The index linked to inflation (CPI) 15-year contracts will come into force from March 31, 2025, at a strike price of GBP 45.99 (USD 55.25/EUR 53.97) per MWh.

NextEnergy Solar Fund expects to bring the Whitecross solar park online in the first quarter of next year. The plant is already under construction. Meanwhile, grid connection and construction mobilisation works are underway for the Hatherden scheme, with the plant’s commissioning scheduled for the first half of 2023.

The outcome of the CfD auction’s fourth allocation round was announced last month. It secured nearly 11 GW of clean energy, including almost 0.9 GW of onshore wind and more than 2.2 GW of solar.

NextEnergy Solar Fund currently owns 865 MW of combined installed solar power and battery storage capacity. The assets are located in the UK and Italy.

(GBP 1.0 = USD 1.201/EUR 1.174)

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