NextEnergy Solar Fund Announce Completion Of Staughton Solar Development

NextEnergy Solar Fund (NESF) have announced the completion of its Staughton solar development - the UK's largest subsidy-free solar plant with an installed capacity of 50MWp - as it leads the transition of the UK solar industry from a subsidy-based regime to one providing clean electricity on market competitive terms.

Located on a former airfield on the Bedfordshire/Cambridgeshire border, the Staughton solar plant is capable of covering the yearly electricity demand of approximately 15,000 UK households. 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. NESF has already started preparing the site of its next subsidy-free solar plant, High Garrett, for construction.

NESF - a constituent of the FTSE 250 following its initial public offering in April 2014 - is a specialist investment company that invests primarily in operating solar power plants in the UK. The Company's overall portfolio of operating solar plants has increased to 755MWp spread across 90 individual solar plants, including three residential rooftop portfolios.

Michael Bonte-Friedheim, CEO of NextEnergy Capital, said:

“Today's energisation of our Staughton solar plant is a landmark moment for NESF and the whole UK solar industry, demonstrating the financial viability and energy generation potential of large scale subsidy-free solar projects in the UK. During our current financial year, we intend to add up to 150MWp in UK subsidy-free capacity to our portfolio - of which 55.4MWp is now delivered - as we lead the UK solar industry's transition from a subsidy-based regime to one providing clean electricity on market competitive terms.”