NextEnergy Capital is to design, build, operate and own over 35MW of solar assets and sell the power directly to Anglian Water through private wire for 25 years.
The photovoltaic plants will be financed and owned by the NextEnergy Solar Fund, for which NextEnergy Capital is the investment manager, and located on Anglian Water’s operational sites.
They will help Anglian Water achieve its target of becoming a net zero carbon organisation by 2030.
NextEnergy Solar Fund has over 700MW of operating plants.
NextEnergy UK managing director Ross Grier said: “We are delighted to be working with Anglian Water as it extends its solar roll-out and ambitious targets of achieving net zero by 2030.
“This is an excellent fit for us, adds long-term contracted revenues to NESF’s portfolio and supplements the growth of our subsidy-free build programme.
“We remain excited by the growth of zero-subsidy generation, and the diverse opportunities that the UK solar market will present in the coming years.”
Anglian Water head of carbon neutrality David Riley said: “We never stop looking for ways to improve what we do, to keep us ahead in a changing world, and our renewables ambition will see us integrate solar and energy storage to help us in our journey to becoming a more sustainable business.
“This partnership with NextEnergy is a win-win for us and our customers and takes us a step closer to becoming a net zero carbon organisation.
“Ours is the driest region in the UK, particularly vulnerable to climate change and one of the fastest growing parts of the country.
“As we tackle these challenges, we are working hard to reduce our carbon footprint including increasing the amount of renewable energy we generate to help power our operations.
“We look forward to working with Next Energy UK as we deliver our programme and deliver further benefits for our customers, the community and the environment.”