NextEnergy Capital Energizes 60 MW Hatherden Solar Farm, NEUK I Portfolio Nears 1 GW in the UK

NextEnergy Capital announced the energization of its latest UK utility-scale solar project, the 60 MW Hatherden Solar Farm, developed on behalf of NextEnergy UK I.

With this milestone, NEUK I has more than doubled its operational capacity over the past year, reaching a total of 380 MW across the UK. The Fund continues to progress toward its target of 1 GW of operational solar and energy storage capacity, supporting the UK’s renewable energy and energy security ambitions under the Clean Power 2030 initiative.

Launched in August 2022, NEUK I is a 10-year fund that closed at approximately £733 million—around 50% above its target size—with backing from LGPS Pools and the UK’s National Wealth Fund. The Fund is now over 95% deployed, with visibility over its remaining pipeline and surplus, representing a portfolio of 19 assets nearing 1 GW in total capacity. Ross Grier, Chief Investment Officer, NextEnergy Capital said, “Hatherden marks the seventh asset energised by NEUK I and demonstrates the continued momentum shown by the team at NEC.  The Fund also has six assets under construction and a further six assets being prepared for construction.  I am immensely proud of the team’s achievements in deploying capital at scale and pace into the UK market and our continued contribution to energy security and decarbonisation.”

NEUK I’s investment strategy focuses on high-quality solar infrastructure in the UK, leveraging NextEnergy Capital’s strong track record across development, construction, and operations. The Fund’s portfolio benefits from a stable revenue base, with more than 76% of its solar capacity secured under long-term offtake agreements, including new Contracts for Difference (CfDs) on recent assets. This approach provides predictable returns while aligning with the UK government’s goal of reaching 50 GW of solar PV capacity by 2030.