NextPower UK ESG acquires its fifteenth asset

London, 12 March 2025 –  NextEnergy Capital  is pleased to announce that NextPower UK ESG (“NPUK”) has acquired its fifteenth asset, ‘Mere Flats’, a ready-to-build, 56MW solar and 16MW co-located BESS project located in South Yorkshire, UK, raising NPUK’s portfolio capacity to 731MW.

NPUK is expected to achieve over 400MW of operating capacity in the UK this year, making a tangible difference in providing clean generation to the UK’s energy mix.  NPUK has a further 300MW+ of ready-to-build solar and energy storage projects, alongside further near-term acquisitions in its pipeline.

To date, NPUK has deployed over 70% of its committed capital from investors and is rapidly progressing in delivering new-build capacity, which is expected to exceed 1GW when fully deployed.

Spyros Sfantos, Investment Director UK, NextEnergy Capital, commented:

“As the UK Government pledges to ramp up solar power capacity from 16GW to 70GW by 2035, NPUK and the team at NextEnergy Capital are in a great position to capture this growth. The Mere Flats acquisition is NPUK’s fifteenth, expanding the fund’s portfolio capacity to 731MW.  We expect to see further growth in NPUK’s total capacity through 2025, and the fund remains on track to outperform its return and dividend targets, with dividends to date being significantly above the target.”

James Spooner, Head of M&A at Korkia and Director of Climate ER Helio, said:

“We are delighted to see the Mere Flats project move forward with a trusted partner that shares our commitment to advancing renewable energy. This transaction marks an important milestone in Korkia’s strategy as we continue to develop high-quality solar and co-located energy storage projects in the UK and across our 20 GW global portfolio. We are also pleased to further strengthen our relationship with NextEnergy, having previously collaborated with them in Spain and Chile. As one of the world’s leading solar developers, their expertise and deep understanding of the UK energy market make them the ideal partner to take this project forward.”

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