Standard content for Members only
To continue reading this article, please login to your Utility Week account, Start 14 day trial or Become a member.
If your organisation already has a corporate membership and you haven’t activated it simply follow the register link below. Check here.
Next Energy Solar Fund has acquired two UK solar farms in deals worth a combined £22 million as it embarks to expand its generation capacity.
The fund has purchased the 9.3MWp Bowerhouse solar power plant in Somerset for up to £11.1 million, which will be completed upon receipt of a preliminary acceptance certificate which Next Energy expects to receive later this month, and the 8.5MWp Wellingborough solar power plant in Northamptonshire for £10.9 million.
The two solar farms are eligible for 1.4 and 1.6 Renewable Obligation Certificates (Rocs) respectively.
The deals bring Next Energy Solar Fund’s portfolio up to a total of 18 assets with a combined capacity of 234.5MWp.
Next Energy Solar Fund chairman Kevin Lyon said the fund was still looking to expand its portfolio and may have to extend its finance arrangements to do so.
He said: “The company is considering a number of additional acquisition opportunities which we will finance using our current debt facility.
“Given the extent of the portfolio under consideration, we expect to expand our debt facilities in short order to enable us to continue to close acquisitions rapidly on attractive assets as they mature.”
Please login or Register to leave a comment.