9th Jun 2022 10:40
(Alliance News) - NextEnergy Solar Fund Ltd on Thursday said it has acquired a solar power asset in Nottinghamshire and is continuing to pursue a GBP350 million pipeline of other investments.
The solar power renewable energy investment company said it has bought a 181 kilowatt commercial rooftop solar power asset located on a Holiday Inn in Nottinghamshire. The asset, which was bought for an undisclosed amount, has a 25-year power purchase agreement for its entire generated volume, it added.
It marks the fifth and final investment under NextEnergy's 2021 partnership deal with renewable energy developer Zestec. The partnership has allowed the company to add five further rooftop solar assets to its portfolio. The other four assets are located in Cheshire, Worcestershire, Oxfordshire, and East Sussex.
Further, the Guernsey-based company said that, with the Nottinghamshire investment, its portfolio has reached 100 operating solar assets.
Looking forward, NextEnergy said it is continuing to pursue a GBP350 million pipeline, including UK stand-alone energy storage, international solar assets, and co-located battery storage.
UK Managing Director Ross Grier said: "NextEnergy's hundredth solar asset, in Nottinghamshire, marks another major milestone in short succession after announcing international co-investments and battery storage acquisitions."
"As the cheapest and quickest to construct form of renewable energy, solar is vital to the transition to net zero and NextEnergy is proud of the part it is playing in this transition," Grier added.
Shares in NextEnergy were down 0.1% to 110.09 pence each in London on Thursday morning.
By Sophie Rose; [email protected]
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