NextEnergy Capital secures US$ 232m for solar investments in OECD countries

• NextEnergy Capital Group (NEC) has actually raised an added US$ 232 million for its global solar fund, as it targets PV projects in OECD countries such as the United States, Portugal, Spain, Chile as well as Italy.

The solar capitalist as well as asset proprietor's NextPower III ESG worldwide solar fund (NPIII) has secured commitments from German pension fund Derigo and also an unnamed UK institutional capitalist, taking the fund's overall capital raised to US$ 530 million.

NPIII, which safeguarded commitments completing US$ 280 million early last year, has up until now obtained 14 solar projects and also one portfolio with a total capacity of around 400MW, located in markets such as the US, India, Portugal and Chile.

NEC said the fund has a portfolio of further purchase targets, including five projects under exclusivity totalling 453MW and a further 351MW under innovative settlement. These procurements are expected to be finished in the second fifty percent of this year, bringing the fund's mounted capacity to 1.2 GW.

NPIII, which has a last target of US$ 750 million, is due to close at the end of this year and also attain a portfolio of 2.5 GW-- 3GW of operating solar upon full capital deployment.

"NextPower III ESG remains to go from stamina to stamina, with institutional investor rate of interest enhancing in parallel as the demand for eco-friendly framework internationally continues to grow rapidly," said Michael Bonte-Friedheim, Chief Executive Officer as well as founder of NEC.