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NextEnergy acquires two operating solar plants
Specialist investment company NextEnergy Solar Fund has invested £9.3m in two operating solar plants with a total combined peak capacity of 7.2 megawatts.
Both of NextEnergy's new UK solar power plants, located in Berkshire and Buckinghamshire, with integrated electricity storage capabilities, have a battery energy storage system, comprised of a lithium-ion battery pack integrated with switchgear and transformers, capable of providing frequency response and grid balancing services.
The transaction represents NextEnergy's first foray into integrating operating solar plants with BESS, something the company expects to continue growing its exposure to as opportunities increase in scale and scope.
"NESF continues to pursue further transactions from its pipeline of acquisition opportunities and expects to announce additional investments in due course," the firm said on Wednesday.
As of 1330 BST, NESF shares had pushed ahead 0.41% to 108.95p.