NextEnergy Capital achieves third close of NPUK ESG

NextEnergy Capital (NEC) has announced the third close of the NextPower UK ESG (NPUK ESG) Fund at GBP595 million (US$720 million), surpassing its initial target of GBP500 million (US$605 million) and now working towards its hard cap of GBP1 billion (US$1.21 billion).

This third close was achieved six months after the fund’s first close in August 2022 and two months after its second close in December 2022. The investments came from multiple sources, including Border to Coast Pensions Partnership and the UK Infrastructure Bank. The fund is expecting to welcome more investors in the near future.

NPUK ESG is a private solar fund that focuses on unsubsidized new-build solar plants in the UK. At its hard cap, the Fund is estimated to produce enough clean energy to power the equivalent of nearly 500,000 households.