NextEnergy Capital’s third solar fund has made its first acquisition in Mexico.
The NextPower III fund has bought a 108MWp solar project for an undisclosed sum.
Filinto Martins, investment director of NextPower III, said this acquisition allows NextPower III to further increase its presence globally and enter the Latin America market where it has secured a significant pipeline of further opportunities.
“NextPower III is also in advanced execution on the second phase of the project for up to a total 108.3MWp later this year.”
Aldo Beolchini, managing partner and CIO, said: “We are particularly pleased to announce this transaction in the growing Mexican solar market. It testifies to the international execution capabilities of the NextEnergy Capital team, especially in the current difficult business climate.
“We continue to monitor the COVID-19 situation and are optimistic about the long-term prospects for the solar industry and for our NextPower III fund. We are on track to build a target portfolio for NextPower III of some 2.5GW installed solar capacity.”