Next Energy Acquires Two Solar Projects in England

UK-based Next Energy Solar Fund has signed agreements to acquire two solar projects with 45.4-megawatts of capacity in England.

The company will acquire the 33.7-MW Glebe solar power plant in Bedfordshire for GBP 40.5 million (US$67 million). It will also play GBP 14.2 million for the 11.7-MW Hawkers project in Somerset. Both are operating projects and grid-connected.

Both of the plants are already operating and were connected to the power grid in March. NextEnergy said it has a 31.5 million pounds revolving credit facility that will be used to pay for the plants beyond its existing equity funding and any future acquisitions.

The company has utilised GBP 61 million that it raised from its initial public offering last year, and now plans to secure debt funding.

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