NextEnergy Capital Ltd. has announced that its NextPower UK ESG (NPUK) fund has exceeded its fundraising target by 25%, securing £625 million against an original target of £500 million. The fund continues to garner interest as it aims for a £1 billion hard cap. Launched in August 2022, NPUK focuses on acquiring and developing utility-scale solar and Battery Storage (BESS) assets. The fund has already acquired ten such assets with a combined capacity of 497MW, with further projects expected to commence operations in 2024. This rapid capital deployment has allowed NPUK to make distribution payments and show impressive Net Asset Value (NAV) growth. The ultimate goal is to provide clean energy to approximately 500,000 UK households annually, showcasing significant ESG impact.

Renewable Energy, Private Equity,United Kingdom