NextEnergy Capital’s latest OECD-focused solar and battery storage fund has added a 50MW portfolio of solar farm projects in Poland to its portfolio.
The NextPower V ESG (NPV ESG ) fund has invested an unspecified amount to acquire the projects from a group company of Grenevia.
It is the fund’s third transaction in three months, following investments in a 100MW US solar project and a 66MW European contract for difference portfolio.
To date, NPV ESG has secured $745m in total commitments.
As previously reported, NPV ESG received commitments from a UK local government pension scheme investment pool, a Dutch pension fund, and a follow-on investment from an existing NextPower III ESG investor. Norway’s KLP also invested in the fund last year.
NextEnergy expects to raise $1.5bn with a $2bn hard cap for the fund.
Aldo Beolchini, CIO and managing partner at NextEnergy Capital, said: “We are delighted to announce this latest acquisition for NPV ESG, which again demonstrates NEC as a market leader in the solar space with over 110MW of capacity added to NPV ESG over the last 10 weeks.
“The Investment team continues to make significant progress in deploying capital into new attractive projects and we look forward to welcoming new investors into the future.”
Antonio Salvati, managing director of NPV ESG at NextEnergy Capital, said: “We are very pleased with the acquisition of our second Polish portfolio. Poland continues to be an excellent market backed by strong government support, power prices and stalwart counterparties furthering our capacity to generate long-term stable cashflows.
“This circa 50MW acquisition is yet another milestone achieved by the NPV ESG Investment team and signifies our enduring commitment to the solar-plus infrastructure space, driving increasing returns for our investors and our mission to lead the transition to clean energy.”
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