Next Energy Solar Fund is planning to spend £20m on commercial building rooftop PV in 2019.
The fund has partnered with Zestec Asset Management to develop and build out new projects and aims to acquire existing rooftop schemes as well as fund new developments.
The plan is to sell electricity generated from the schemes via power purchase agreements (PPAs) with commercial landlords, giving them a cheaper rate than drawing from the grid. It will offer 15-25 year terms.
The fund said it has committed £5m to acquire an “initial batch” of projects over the next few months. Projects that are completed prior to 1 April this year will receive a 20-year feed-in tariff (FiT).
Next Energy paid £3.6m for 1.15MW of rooftop PV last summer, though many of those installations were small, benefitting from generous FiTs.
In November, the company said it was set to announce subsidy-free assets by April 2019 and was in negotiations for up to 470MW of unsubsidised projects.