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NextEnergy planning to increase storage investment

February 22, 2023

NextEnergy Solar Fund (NESF) has said it is currently consulting with shareholders with a view to amending its existing investment policy to increase the limit on standalone energy storage systems from 10 per cent to up to 25 per cent of the gross asset value.

“This will enable NESF to take advantage of existing energy storage opportunities in the UK via its relationship with EelPower Ltd, which will complement and diversify NESF’s existing large portfolio of solar assets.”

NESF agreed a £200m joint venture partnership with Eelpower – which constructs, owns and operates grid-scale batteries in the UK – in September last year.