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NextEnergy Capital announces First Close of its UK Subsidy-Free Solar Fund, NextPower UK ESG, at over 65% of Target

London, August 25, 2022 – NextEnergy Capital (“NEC”), a global leader in the renewables sector, is pleased to announce the first close for NextPower UK ESG (“NPUK ESG”) at £327 million, which is over 65% of NPUK ESG’s target of £500m. The fund has a hard cap of £1 billion.

Since it officially launched in December 2021, NPUK ESG has enjoyed significant fundraising momentum against a challenging backdrop.  The commitments in this first close have been made from investors in the UK and the Middle East including the UK Infrastructure Bank (“UKIB”), LGPS Central Limited, Merseyside Pension Fund and Brunel Pension Partnership. The UKIB is the cornerstone investor for the fund and plans to invest up to £250 million on a match funding basis. The fund is targeting both UK and international institutional investors, with further investors currently in due diligence, and the fundraising period is 2 years from 1st close. (more…)

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