NextPower UK ESG (NPUK), the largest private fund focused on new-build solar in the UK, has raised £733 million, nearly 50% above its initial target of £500 million. The fund plays a role in the Clean Power 2030 strategy to enhance energy security and reduce carbon emissions through increased domestic renewable energy production.
The National Wealth Fund was a cornerstone investor, committing £250 million on a match-funding basis to attract private capital into UK renewables. Other investors include local government pension pools and international institutions seeking exposure to the UK’s expanding solar sector.
NPUK has deployed over 70% of its capital and recently acquired its 15th asset, bringing its total portfolio capacity to 731MW. The fund now operates 249MW of solar assets in the UK, including Llanwern solar farm, the country’s largest operational solar project.
NPUK has 482MW of solar and energy storage projects in construction or ready-to-build, with further acquisitions planned. The fund is on track to surpass 400MW of operational capacity this year and is expected to exceed 1GW when fully deployed.
As an Article 9 Fund under the EU Sustainable Finance Disclosure Regulation (SFDR), NPUK is committed to biodiversity enhancement and transparent impact reporting. When fully operational, it will provide clean energy to 371,756 households annually, avoiding the equivalent of 887,003 barrels of oil consumption per year.
Institutional investors continue to see UK renewables as a high-potential market, with policy support and strong fundamentals driving opportunities in development-stage solar projects. With further expansion in clean energy infrastructure, the UK is positioned to increase its solar capacity and meet its long-term climate targets.
