Investment firm NextEnergy Solar Fund yesterday announced it had completed its purchase of three UK operating solar PV plants with a total power of 53 megawatt peak (MWp).
The £62m portfolio includes the 20.4MW Fenland and 24.8MW Green End projects in Cambridgeshire and the 8.1MW Tower Hill development in Gloucestershire.
All three plants were connected to the grid in early 2015 and are accredited under the Renewable Obligation subsidy scheme at a rate of 1.4 Renewable Obligation Certificates (ROCs) per MWh.
"We are delighted to have acquired this portfolio of three operating plants, which we believe is the largest acquisition of operating assets announced by a UK-listed solar company to date," Michael Bonte-Friedheim, chief executive of NextEnergy Capital - the investment manager of NextEnergy Solar Fund - told BusinessGreen.
The new acquisition means the Guernsey-based firm has now invested £382m in 28 solar assets with a total capacity of 329MWp.
NextEnergy Solar Fund is one of several dedicated listed investment funds created to invest in clean energy technologies. It invests only in operating solar power plants in the UK, and aims to secure shareholder returns through retail price index (RPI) linked dividends and long-term growth.
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