Fri. Jun 24th, 2022

The UK Infrastructure Bank is providing finance to fund two major subsidy-free solar farms. The seed assets are operational at sites in Llanwern in South Wales and Strensham, Worcestershire, which all together will have an estimated installed capacity of 115MW.

The UK farms will be managed by a new fund with NextEnergy Capital that aims to double the amount of subsidy-free solar power in the UK by raising £500m. NextPower UK ESG, is a private 10-year solar infrastructure fund.

The UK Infrastructure Bank also plans to invest up to £250m, which is half of the fund’s total target fund size, on a match funding basis with a private sector.

This will be the largest subsidy-free solar investment fund in the UK, managed by NextEnergy Capital a global leader in the solar infrastructure sector. Once the fund is fully operational it will have an estimated generation capacity of around 1GW of power from 30 solar farms across the UK.

It is estimated to produce enough clean electricity to power the equivalent of 280,000 households, and offset 370,000 carbon emitting cars on the road each year.

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If you’re interested in more UK energy news, check out our other articles regarding the UK energy sector and how it’s handling the recent energy crisis.