Portfolio

Size (Gross Asset Value) £1,258M as at 30/09/2022
Operating assets 99 as at 30/09/2022
Installed capacity 865MW as at 30/09/2022
Geographies 8 as at 30/09/2022

Snapshot of Our Diversified Portfolio

NESF MAP - PORTFOLIO

Where we invest by location as at 30 September 2022

  • UK 85.1
  • Italy 10.8
  • Spain 0.9
  • Portugal 0.6
  • Other International (NextPower III ESG) 2.6

Solar assets

Enough solar energy hits the Earth in a single hour to power the energy needs of the entire human population for a year.  Solar is also the cheapest form of renewable energy generation and quickest to construct.  NextEnergy Solar Fund owns solar assets on a direct basis (owning 100%), on a co-investment basis (owning a % of the asset directly), and on an indirect basis (through investments via private international solar infrastructure funds)

Our solar investments as at 30 September 2022

Operating Solar Assets

Operating Solar PV

  • 99 operating solar assets across the UK and Italy (primarily on agricultural, industrial, and commercial sites)

In Construction & Development Solar Assets

In-Construction & Development Solar PV

  • A 50MW co-investment into a Spanish solar project alongside NextPower III ESG, currently under construction
  • A 210MW co-investment into a Portuguese solar project alongside NextPower III ESG, currently under construction
  • A UK solar project under construction (Whitecross 36MW)
  • A ready-to-build UK solar project (Hatherden 50MW)

Commitment in International Private Solar Fund

Commitment in International Private Solar Fund

  • A $50m commitment into NextPower III ESG (a private solar infrastructure fund providing exposure to both operating and under construction, international solar assets)

Battery assets

Battery assets have a pivotal role to play in the penetration of renewables globally.  They are a highly complementary technology to Solar Photovoltaics and are uncorrelated, providing further diversification to the portfolio from a technology, revenue and geographic perspective.  NextEnergy Solar Fund has partnered with Eelpower, a specialist in the battery sector, to create a joint venture partnership targeting £300m worth of battery investments.   The fund has also created a retro fit, co-location battery program, to identify potential battery sites on the fund existing operating solar assets.

Our battery investments as at 30 September 2022:

 

In-Construction & Development Battery Storage Assets

Joint Venture Partnership with Eelpower:

  • A 50MW standalone battery storage project in Fife, Scotland, currently under construction (part of a £300m joint venture with Eelpower)
  • A portfolio of 250MW pre-construction standalone battery storage projects in the East of England

In-Construction and Development Co-located Battery Storage Program

Retrofit Co-Located Battery Storage Programme:

  • First site identified for a 6MW co-located battery storage project at North Norfolk Solar Farm

Revenue breakdown

Around 50% of the Company’s revenues are made up of RPI-linked government-backed subsidies (such as ROCs and Fits).  The remaining revenues in the portfolio are generated through the sale of budgeted power generation into the market.  NextEnergy Solar Fund benefits from a specialist energy sales desk that actively manages the power price contracting strategy and activities.

Technology breakdown

The portfolio benefits from diversification across different technology providers.

Solar Irradiation Levels

Solar irradiation is a measure of the suns power and is highly predictable.  The sun does not need to be shining to emit solar irradiation, meaning solar assets can generate electricity even on a cloudy day.  NextEnergy Solar Fund accurately measures solar irradiance levels across all its operating portfolio, meaning that the fund can accurately forecast how much electricity the assets are going to generate.