NextPower UK ESG secures major funds

NextEnergy Capital’s NextPower UK (NPUK) ESG fund has raised £653 million, exceeding its target by 30%. Key investors include London LGPS CIV Limited, LGPS Central Limited, and pension funds from the Middle East and Japan. The UK Infrastructure Bank provided £250 million in cornerstone funding. The fund supports solar PV projects across local jurisdictions, aligning with leveling up initiatives. With operational and under-construction assets exceeding 75% of capacity, NPUK is poised to exceed return expectations, having already distributed two payments to investors surpassing targets. Upon full deployment at 2 GW capacity, NPUK will generate clean energy for approximately 500,000 UK households annually, reinforcing its significant ESG impact.