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First private sector deal for UK Infrastructure Bank helps catalyse NextEnergy Capital’s £500m subsidy-free solar fund
The UK Infrastructure Bank has made its first private sector transaction, which will help catalyse a new £500m fund with NextEnergy Capital that could double the amount of subsidy-free solar power in the UK.
The fund, NextPower UK ESG (NPUK ESG), is a private 10-year solar infrastructure fund which aims to raise £500m to invest into subsidy-free solar power plants in the UK. It will be the largest subsidy-free solar investment fund in the UK, managed by NextEnergy Capital (NEC) a global leader in the solar infrastructure sector. Once the fund is fully operational it will have an expected generation capacity of c.1 gigawatt of power from around 30 solar farms across the UK. It will produce enough clean electricity to power the equivalent of 280,000 households or offset 370,000 carbon-emitting cars on the road each year.
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