NextEnergy Capital (NEC) has announced that NextEnergy UK I (NEUK I), its private fund investing in solar and battery energy storage system (BESS) projects in the UK, has completed the acquisition of a 107MW portfolio of standalone operational BESS assets.
The acquired portfolio consists of three operational battery storage projects: Maldon (40MW), Basildon (28MW), and Loudwater (39MW). Located across southeast England, the assets are positioned close to major electricity demand centres and key grid infrastructure.
All three BESS projects are fully operational and have long-term Capacity Market contracts and established routes to market through operational counterparties.
Following the acquisition, NEUK I’s total standalone BESS capacity has increased to 165MW. The transaction also expands the fund’s revenue profile by adding operational, cash-generating battery storage assets alongside its existing utility-scale solar portfolio.
The acquisition comes after NEUK I reached a final close with £733 million in commitments. Since its launch, the fund has built and acquired a diversified portfolio of more than 1GW of UK renewable energy infrastructure assets.
Ross Grier, Chief Investment Officer at NextEnergy Capital, said the acquisition marks an important milestone for NEUK I and strengthens its exposure to the growing energy storage sector. He added that BESS will play a key role in supporting the UK’s clean power ambitions by providing flexibility to integrate increasing levels of renewable generation.
Michael Bonte-Friedheim, Founding Partner and Chief Executive Officer of NextEnergy Capital, said the transaction demonstrates the company’s ability to source, execute and manage renewable energy investments at scale and pace. He added that the company remains focused on supporting the UK’s energy security and decarbonisation objectives while creating long-term value for investors.
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