NextEnergy Solar Fund, the specialist solar power renewable energy investment company, is pleased to announce its portfolio has reached one hundred operating solar assets.
The Company's hundredth operating solar asset is a 181kW commercial rooftop solar power asset located on a Holiday Inn in Nottinghamshire. The asset benefits from an attractive 25-year power purchase agreement ("PPA") for 100% of its generated volume.
This asset marks the final investment under the Company's rooftop solar venture with renewable energy developer, Zestec. The partnership, which was formed in March 2021 has allowed the Company to add five rooftop solar assets with a combined capacity of 0.9MW, yielding attractive future risk-weighted financial returns in line with the Company's strategy. The five rooftop assets benefit from long term, inflation linked PPA's with the building tenants, with t wo benefiting from government subsidised Feed in Tariffs ("FiTs"). The rooftop assets generate stable priced, sustainable energy for the tenants, helping them to reduce power price volatility whilst achieving their decarbonisation ambitions.
The Company continues to pursue an exciting £350m pipeline, which includes UK standalone energy storage, international solar assets, and co-located battery storage via the Company's newly announced retrofit program.
Ross Grier, UK Managing Director, NextEnergy Group commented:
"NESF's hundredth solar asset, in Nottinghamshire, marks another major milestone in short succession after announcing international co-investments and battery storage acquisitions. NESF has consistently delivered on strategy since its IPO in 2014, and the fact that this latest solar asset is based on the rooftop of an international hotel chain shows how far the solar sector has matured and developed, with it now accepted and embraced as a major energy asset class. As the cheapest and quickest to construct form of renewable energy, solar is vital to the transition to net zero and NESF is proud of the part it is playing in this transition."
