Korkia, a company specialising in renewable energy development and investment, has announced the sale of the Mere Flats project to a fund managed by NextEnergy Capital. This solar project, combined with a battery storage system, has an installed capacity of 56 megawatts-peak (MWp) for solar and 16 MW for storage. Located in South Yorkshire, it is fully approved, with all necessary permits and land rights secured.
Project development and structuring
Mere Flats is the first project in Korkia’s UK portfolio to reach the ready-to-build phase. This portfolio includes nine projects integrating battery energy storage systems (BESS). The structuring of the project was carried out by Climate ER Helio, a joint venture between Korkia and Climate ER, which oversaw the development until the final permits were obtained. Once operational, Mere Flats will supply electricity to over 20,000 households annually.
NextEnergy Capital’s expansion strategy
The acquiring fund, managed by NextEnergy Capital, follows an investment strategy focused on solar and energy storage assets. With this acquisition, the fund’s UK portfolio now reaches a cumulative capacity of 731 MW. This transaction aligns with a broader strategy to capitalise on the expected growth of the UK solar market, amid increasing investment in renewable energy infrastructure.
Korkia’s market positioning
With over 130 projects in development across eight countries and a total capacity exceeding 20 gigawatts (GW), Korkia continues its expansion in the renewable energy sector. The company anticipates an acceleration in its ready-to-build project pipeline in 2025, strengthening its presence in multiple international markets. The sale of Mere Flats represents a key step in its investment and asset rotation strategy.
Outlook for the UK market
The UK aims for a significant increase in solar capacity, targeting 70 GW installed by 2035. This policy framework supports transactions like the Mere Flats sale, where institutional players such as NextEnergy Capital play a central role in financing and deploying solar and storage infrastructure.
