NextPower UK ESG (NPUK ESG), managed by NextEnergy Capital, has exceeded its fundraising target of £500 million ($641 million) by 30 percent, increasing its total funds committed to date to £653 million ($837 million).
The additional capital comes from London LGPS CIV. Other investors in the fund include LGPS Central Limited, Border to Coast Pensions Partnership, Merseyside Pension Fund, Brunel Pension Partnership and Strathclyde Pension Fund, in addition to investors from the Middle East and Japan. The U.K. Infrastructure Bank also provided cornerstone match-funding capital of £250 million ($320 million).
The fund has been backed by a number of LGPS investors, helping them access solar PV projects in their local jurisdictions as well as pursuing leveling-up agendas.
“This is a testament to NextEnergy Capital’s leadership in the solar-energy sector at a critical time,” said Michael Bonte-Friedheim, group CEO and founder of NextEnergy. “As a private ne
