NextPower UK ESG (NPUK), NextEnergy Capital’s U.K.-focused solar energy fund, has announced that it has raised a commitment from an unnamed large U.K. defined benefit scheme.
The commitment boosts NPUK’s total commitments to date to £625 million ($794 million), 25 percent more than its initial target of £500 million ($635 million), though NPUK will continue to actively fundraise as it progresses towards its hard cap of £1 billion ($1.27 billion).
NPUK is focused on acquiring utility-scale solar and battery storage assets at the ready-to-build stage. Once the assets are operational, NPUK monetizes its power sales through a fully contracted strategy.
NPUK has acquired 10 utility-scale solar assets and has a portfolio combined capacity of 497 megawatts.
Discussing the recent capital raise, Michael Bonte-Friedheim, NextEnergy Group CEO and founder, said, “This is a testament to NextEnergy Capital’s leadership in the solar energy sector. As a privat
