Next Energy solar fund said plans are on track to announce construction of subsidy-free solar plants by April. The company, which connected batteries to two of its solar farms in May, hopes to develop a number of projects.
The company posted a 34% profit increase to £18.4m for the six months to 30 September as output increased 7.9% due to record breaking irradiance levels over the period and a 122MW increase in installed capacity. The fund’s solar portfolio now stands at 691MW.
Chairman Kevin Lyon said the fund’s investment manager “is in negotiation for another 606MW of pipeline assets, of which 470MW represent subsidy free assets and 136MW are with subsidies”.