NextEnergy Solar Fund Ltd (LON: NESF) has announced the energisation of Staughton, the UK’s largest subsidy-free solar plant with an installed capacity of 50MWp. The Staughton solar plant will cover the yearly electricity demand of approximately 15,000 UK households. It is largely located on a former airfield on the Bedfordshire/Cambridgeshire border.
The electricity generated by the plant will be bundled with NESF’s existing portfolio of generating plants and sold under sales contracts already in place. In selling the electricity generated by Staughton and the rest of its portfolio, the Company benefits from the electricity sales desk provided by its asset manager WiseEnergy.
Staughton is NESF’s second subsidy-free solar plant energised during the current financial year following the completion of Hall Farm II (5.4MWp, located in Leicestershire) in August 2019. The Company’s overall portfolio of operating solar plants has increased to 755MWp spread among 90 individual solar plants (including three residential rooftop portfolios).
NextEnergy Solar Fund Ltd has also started preparing the site of its next subsidy-free solar plant, High Garrett, for construction. High Garrett is an 8.5MWp extension to a 5MWp ROC asset known as Kentishes acquired in 2016. This asset is expected to be completed during the first half of 2020.
NESF has developed innovative structuring, delivery and operating asset management capabilities to develop and construct subsidy-free plants in the UK that are value-accretive for the Company and its investors. The Company intends to add a total of approximately 150MWp (of which 55.4MWp is now delivered) in UK subsidy-free capacity to its portfolio as it leads the transition of the solar industry from a subsidy-based regime to providing clean electricity on market competitive terms.