NextEnergy Capital Acquires Fifteenth Solar Asset in the UK
Deal News | Mar 12, 2025 | NextEnergy Capital Ltd
NextEnergy Capital Ltd., through its division NextPower UK ESG (NPUK), has expanded its renewable energy portfolio by acquiring the Mere Flats project, a 56MW solar and 16MW co-located battery energy storage system (BESS) in South Yorkshire, UK. This acquisition increases NPUK's total portfolio capacity to 731MW, aligning with the UK government’s goal to augment solar power capacity significantly by 2035. NPUK has currently deployed over 70% of its committed capital and aims for its capacity to exceed 1GW. The project contributes to the broader goals of delivering clean energy and achieving high returns on investment, with dividends already surpassing targets. The partnership is further strengthened by NextEnergy's previous collaborations globally with Korkia, reinforcing their shared commitment to renewable energy expansion.
Sectors
- Renewable Energy
- Private Equity
Geography
- United Kingdom – The project acquisition is located in South Yorkshire, UK, and aligns with the national strategy to increase solar capacity.
- Global – NextEnergy Capital and Korkia have been involved in global renewable energy projects, including in Spain and Chile, indicating a broader international involvement.
Industry
- Renewable Energy – The article focuses on the acquisition of a solar and energy storage project, reflecting the growth and investment in renewable energy sources.
- Private Equity – NextEnergy Capital, a private equity firm, is actively investing in energy infrastructure projects, highlighting the role of PE in infrastructure development.
Financials
- 731MW – NPUK's total portfolio capacity following the acquisition.
- 1GW – The expected total capacity of NPUK when fully deployed with new-build projects.
- 70% – The percentage of committed capital deployed by NPUK to date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NextEnergy Capital Ltd. | Acquiring Company | Company | NextEnergy Capital Ltd. is a leading global solar investment and asset manager developing renewable energy projects. |
| NextPower UK ESG | Fund | Company | A division of NextEnergy Capital, focusing on UK solar and energy storage projects. |
| Korkia | Partner Company | Company | An international solar energy developer collaborating with NextEnergy on various projects. |
| Spyros Sfantos | Investment Director UK | Person | Represents NextEnergy Capital in commentary on the acquisition. |
| James Spooner | Head of M&A and Director of Climate ER Helio | Person | Represents Korkia in commentary on the project collaboration. |