Invest 500 million in solar power generation projects

How much will the power sector invest in solar in 2024?

Power sector investment in solar photovoltaic (PV) technology is projected to exceed USD 500 billion in 2024, surpassing all other generation sources combined. Though growth may moderate slightly in 2024 due to falling PV module prices, solar remains central to the power sector’s transformation.

Could a new £500m fund double subsidy-free solar power in the UK?

London, December 1st, 2021 – 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.

Will the UK infrastructure bank fund subsidy-free solar power plants?

Image: NextEnergy Capital. Solar investor and asset manager NextEnergy Capital Group (NEC) has secured backing from the UK Infrastructure Bank for a new fund that aims to raise £500 million (US$663 million) to invest in subsidy-free solar power plants in the UK.

What is the UK's largest subsidy-free solar investment fund?

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.

How much power will a solar energy fund produce?

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.

How many solar plants does NEC invest in?

To date, NEC has invested in over 325 individual solar plants for an installed capacity in excess of 1.2 GW. NextEnergy Capital also manages three active investment vehicles: two private funds, NextPower III ESG and NextPower II, and one listed investment company, NextEnergy Solar Fund Limited.