NextEnergy Capital has announced that NextPower UK ESG (NPUK) has acquired its fifteenth asset, ‘Mere Flats,’ a ready-to-build 56 MW solar and 16 MW co-located battery energy storage system (BESS) project in South Yorkshire, UK. This acquisition increased NPUK’s portfolio capacity by 731 MW.
NPUK is on track to exceed 400 MW of operational capacity in the UK by the end of the year, contributing significantly to the country’s renewable energy transition. Additionally, NPUK has more than 300 MW of ready-to-build solar and energy storage projects in its pipeline, alongside several near-term acquisitions.
To date, NPUK has deployed over 70% of its committed capital from investors and is making rapid progress in delivering new-build capacity, which is expected to surpass 1 GW once fully developed.
Spyros Sfantos, Investment Director UK at NextEnergy Capital, emphasized that NPUK is well-positioned to capitalize on the UK’s solar expansion goals, with the Mere Flats acquisition increasing its portfolio to 731 MW. He noted that further growth is expected through 2025, with the fund on track to exceed return and dividend targets.
James Spooner, Head of M&A at Korkia, highlighted the Mere Flats project as a key step in Korkia’s renewable energy strategy. He emphasized that partnering with NextEnergy Capital ensures successful execution and aligns with Korkia’s 20 GW global portfolio. He also noted their ongoing collaboration, citing past projects in Spain and Chile.
