Planned Condover power plant pre-sold in £11.7m deal

THE planned Condover solar power plant in Shropshire has been bought pre-construction by the NextEnergy Solar Fund for up to £11.7m.

NextEnergy Solar Fund (NESF) is a specialist investment fund focused on operational solar photovoltaic assets in the UK.

The deal – structured as a share purchase – means the £85.6m proceeds of the fund’s IPO, which took place earlier this year, are now fully allocated across eight assets.

Condover will be constructed under an engineering, procurement and construction contract negotiated by NESF’s investment manager, NextEnergy Capital. 

It is expected to achieve commissioning by March 2015.