Barking & Dagenham Giving (BD Giving) has made a strategic investment of £250,000 into NextEnergy Solar Fund (NESF).
The investment was made from BD Giving’s community-led investment fund, said to be the UK’s first community-led impact investment vehicle.
NESF is a specialist solar energy and energy storage investment company. BD Giving’s community steering group selected NESF as an investment with the aim of promoting the UK’s net zero transition and clean energy goals, given its “large operating solar asset base throughout the UK”.
BD Giving said the investment policy for the fund aimed to achieve a balance between impact, risk and return.
NESF has a portfolio of 92 operating solar assets in the UK with a total combined installed power capacity of 933MW. This generates enough renewable energy to power the equivalent of c.242,000 average UK home electricity needs for an entire year, according to the company.
Kasang Kajang, Barking and Dagenham resident and former community steering group member, said: “Our investment in NESF represents our interest in a net zero future in the borough and beyond. We look forward to seeing the positive impact of NESF’s work on communities across the UK and will continue supporting NESF through its transformative initiatives that will inevitably reach Barking and Dagenham.”
Peter Hamid, vice president at NextEnergy Capital, commented: “We are delighted that NextEnergy Solar Fund has been selected as the second investment for the UK’s first community-led impact investment vehicle for the people of Barking and Dagenham.
“This investment shows that renewable energy, climate change and the challenges of net zero are relevant to every type of investor in the UK. We look forward to working closely with the borough to further their ambitions.”
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