NextEnergy Capital has announced the final closing of NextPower UK ESG (NPUK), the largest private fund focused specifically on new-build U.K. solar, at £733 million ($946 million). The fund exceeded its target of £500 million ($645 million) by nearly 50 percent.
The National Wealth Fund was the cornerstone investor into NPUK, investing £250 million ($323 million) on a match-funding basis to drive private capital into new-build renewables in the United Kingdom. Several new investors also joined NPUK throughout the fundraising period, including several local government pension pools, alongside international investors.
NextEnergy Capital describes NPUK as “a vital cog in the United Kingdom’s Clean Power 2030 ambitions of delivering energy security and decreasing the country’s carbon output through increasing the amount of domestic green power production.” The fund provides investors attractive returns from a carefully selected portfolio of new-build utility-sc
