NextEnergy Solar Fund agrees to acquire a 5 MW under-construction solar power plant in Essex

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NextEnergy Solar Fund agrees to acquire a 5 MW under-construction solar power plant in Essex

NextEnergy Solar Fund Ltd (NESF), a closed-end investment company managed by NextEnergy Capital IM Limited, has announced an agreement to aquire a 5 MW solar farm in Essex (UK).

The fund will acquire the Kentishes project, which is currently under construction, for an amount of £4.4 million (US$5.5 million). The  solar farm is expected to be connected to the grid next March.

It is the seventh solar farm that the fund has acquired from the same seller, who has not been revealed.

The acquisition will be completed in the first half of 2017, once accreditation has been obtained.

Founded in 2007, the NextEnergy Group is active throughout the solar PV value chain. With this acquisition, NextEnergy Solar Fund expands its portfolio of UK solar projects to 419 MW.

In April 2016, we reported that NESF acquired a portfolio of five operating plants totaling 84.2MW for a total net consideration of £97.9 million from Low Carbon and in February it acquired three operating solar PV plants totalling 53.3 MW  for £61.7 million (US$89 million) from Hanwha Q CELLS.

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