London, December 2nd, 2019 – NextEnergy Capital (investment manager for NextEnergy Solar Fund) and Anglian Water Services have signed an agreement through which NextEnergy Capital will design, build, operate, and own over 35 MW of solar assets and sell the power directly to Anglian Water through private wire for a 25-year period.
The solar assets will be financed and owned by NextEnergy Solar Fund (NESF), an investment company with over 700 MW of operating plants and a focus on the UK solar sector.
The deal is the largest on-site solar PV generation tender to date in the UK solar market and shows the continued growth of the commercial and industrial solar generation landscape.
Anglian Water has set the ambitious target of becoming a net-zero carbon organisation by 2030, by finding more sustainable ways of meeting an increasing demand for services created by a growing population, whilst taking into account the effects of climate change in the region. This is a huge challenge and generating renewable energy is a vital part of delivering against this significant ambition.
As a result of this partnership, NESF will own and operate a portfolio of solar sites on Anglian Water’s operational sites that will help Anglian Water achieve its ambitious target of net-zero carbon by 2030.
Ross Grier, NextEnergy UK managing director said: “We are delighted to be working with Anglian Water as it extends its solar roll-out and ambitious targets of achieving Net Zero by 2030. This is an excellent fit for us, adds long-term contracted revenues to NESF’s portfolio and supplements the growth of our subsidy-free build programme. We remain excited by the growth of zero-subsidy generation and the diverse opportunities that the UK solar market will present in the coming years.”
David Riley, Anglian Water head of carbon neutrality said: “We never stop looking for ways to improve what we do, to keep us ahead in a changing world, and our renewables ambition will see us integrate solar and energy storage to help us in our journey to becoming a more sustainable business. This partnership with NextEnergy is a win-win for us and our customers and takes us a step closer to becoming a net-zero carbon organisation. Ours is the driest region in the UK, particularly vulnerable to climate change and one of the fastest growing parts of the country.
“As we tackle these challenges, we are working hard to reduce our carbon footprint including increasing the amount of renewable energy we generate to help power our operations. We look forward to working with NextEnergy UK as we deliver our programme and deliver further benefits for our customers, the community and the environment.”