Next Energy Solar Fund (NESF), a specialist investment company for UK solar power plants, has acquired ten operating solar plants with a total installed capacity of 66.8MWp.
All ten assets were connected to grid between 2012 and 2014 with subsidies, including six assets with renewable obligations certificates of 1.6, and four assets with feed-in-tariffs. The acquisition comes less than a month after NESF acquired ten PV arrays with a total capacity of 46.6MWp and the fund said it expected more acquisitions to follow.
The new acquisitions comprise:
- Hook (1.6 ROC, 15.3MWp, Somerset)
- Whitley (1.6 ROC, 7.6MWp, Somerset)
- Saundercroft (1.6 ROC, 7.2MWp, Devon)
- Blenches (1.6 ROC, 6.1MWp, Wiltshire)
- Burrowton (1.6 ROC, 5.4MWp, Devon)
- Raglington (1.6 ROC, 5.7MWp, Hampshire)
- Chilton Cantello (FiT – 10.34p/kWh, 5.0MWp, Somerset)
- Crossways (FiT -10.34p/kWh, 5.0MWp, Dorset)
- Wyld Meadow (FiT -8.01p/kWh, 4.8MWp, Dorset)
- Knockworthy (FiT – 7.71p/kWh, 4.6MWp, Cornwall)
The acquisitions increase NESF’s operating portfolio to 85 assets with a total capacity of 689.4MWp and total investment value of £890.1 millon.
The Portfolio has a long-term debt facility amounting to £58.3 million in place across all assets, previously entered into by the vendor. This facility matures in 2033.