NextPower UK ESG (NPUK) has acquired its eleventh utility-scale solar project, Locks Solar Farm.
The 18.5MW ready-to-build project in Hampshire, UK has successfully obtained a contract for difference under in the allocation round 6 (AR6) auction, said NextEnergy Capital.
The CfD covers the full generating capacity of Locks Solar Farm with the solar price successfully secured at a fixed price of around £50.
The project increases NPUK’s diversified portfolio to 11 UK utility-scale solar and BESS assets in the UK with a total capacity of 515.5MW.
NPUK remains on track to outperform its return and dividend targets, with dividends to date being significantly above the target, NextEnergy said.
Once fully deployed at approximately 2GW capacity, NPUK will provide enough clean energy to power around 500,000 UK households per year, making a significant ESG impact in the UK, it added.
NPUK continues to actively fundraise towards its hard cap having successfully secured total funds committed to date of £683m, around 37% above its target of £500m.
NPUK has several investors currently in late-stage due diligence with further capital expected to be closed in the following weeks, according to the investor.
NextEnergy Group chief executive and founder Michael Bonte-Friedheim said: “NextPower UK ESG is the UK’s leading specialist private solar fund that is playing a crucial part in the UK’s transition to net zero, as well as increasing the UK’s energy security through independence.
“Since its launch in August 2022, NextPower UK ESG has successfully grown to 11 assets having already deployed over 63% of the commitments raised to date.
“NextPower UK ESG continues to demonstrate NextEnergy Capital’s successful track record of portfolio growth and positive fundraising in the UK and key target markets.”