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NextEnergy Solar to purchase 16.5-MWp PV farm in UK

March 27 – NextEnergy Solar Fund Ltd (LON:NESF) has agreed to buy a 16.5-MWp solar power plant in Cambridgeshire, England for up to GBP 17.8 million (USD 26.5m/EUR 24.5m).

The Croydon solar farm was connected to the grid on March 2 and is being accredited under the 1.4 Renewables Obligation Certificates (ROCs) support mechanism, the UK investment company said today. 

The fund expects to complete the acquisition of the special purpose vehicle owning the plant by the end of the month. The solar farm was built under an engineering, procurement and construction contract agreed by NESF’s investment advisor, NextEnergy Capital Ltd.  

The deal means NESF’s portfolio now consists of 15 assets representing a capacity of 171.3 MWp. Their total investment value is GBP 197 million, or some 80% of the GBP 246.6 million in equity the company has raised since floating on the London Stock Exchange’s main market in April 2014. 

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