NextEnergy acquires 17.4 MW Portuguese solar project

• Plant building and construction to start this quarter with commissioning next year

NextEnergy Capital has actually obtained its very first property in Portugal, a solar PV project.

Bought through its NextPower III from the developers Azimuth Molecule and also Cardinal Flexivel, the 17.4 MWp plant has a 10-year PPA.

Building and construction is anticipated to start this quarter and commissioning due in the 3rd quarter of 2021.

With this acquisition, the NextPower III fund now has 335MWp in operation as well as under construction throughout 8 projects in multiple locations

It additionally has 7 further projects under exclusivity with an overall capacity of circa 450MWp.

NextPower III's investment technique is to obtain solar power plants at the ready-to-build condition or in operations across high-growth OECD international markets.

The investment team is presently concentrating its initiatives to raise the portfolios in its thoroughly chosen locations consisting of the USA, Latin America and also Europe, where NPIII have continuous purchases, and also anticipates to reveal further procurements throughout the 4th quarter of 2020.

Managing supervisor and also head of NextPower III Filinto Martins stated: "This acquisition allows NextPower III to more increase its presence internationally and go into the European market in a country with high growth possibility.

" NextPowerIII is already at an advanced phase of settlements to execute more opportunities in Iberia by the end of the year. We see Iberia as an essential location for the fund and we have a specified development approach for Iberia."

Handling companion as well as primary financial investment police officer Aldo Beolchini said: "Portugal as well as several other nations worldwide are stepping-up their commitments to raise clean power generation.

" Whether it is for lowering their carbon exhausts, startup the eco-friendly hydrogen economic climate or to advertise an eco-friendly recuperation from COVID pandemic, we are proud to be contributing to this worldwide effort whilst opening brand-new markets for NextEnergy.

" We get on track to develop a target profile for our personal fund NextPower III of around 2.5 GW installed solar ability worldwide."