Guernsey’s NextEnergy to invest up to $25.9 mln in solar PV projects

Guernsey-based NextEnergy Solar Fund Ltd., an investment company focused on solar photovoltaic (PV) assets, plans to invest up to 20 million pounds ($25.9 million) this year in commercial rooftop PV projects.

NextEnergy Solar is investing under its partnership with UK renewable energy assets manager Zestec Asset Management Ltd.

The partnership foresees NextEnergy Solar’s financial involvement in installing commercial-sized solar plants across the UK whereas Zestec Asset will implement its proprietary power purchase agreement (PPA) model to the projects.

Accordingly, Zestec will develop and install commercial and industrial PV systems. Landlords will then purchase the electricity under a PPA from NextEnergy, at a tariff that sits below their normal electricity import cost.