NextEnergy Capital releases $1.5 bn solar fund

Jan 17, 2023 01:05 PM ET
  • NPV ESG financial investment vehicle is targeting opportunities in OECD markets totaling up to 3.5 GW of capacity
NextEnergy Capital releases $1.5 bn solar fund
Image: NextEnergy Capital

Solar investor NextEnergy Capital (NEC) has actually released its most recent financial investment vehicle targeting opportunities in OECD markets.

The fund is targeting $1.5 bn in solar investments amounting to a mounted capacity of 3.5 GW.

The NextPower V ESG (NPV ESG) vehicle follows on from the OECD global solar approach, NextPower III ESG (NPIII ESG), which enclosed 2022 with $896m in total commitments.

NEC's financial investments span 350 specific utility-scale solar assets across OECD markets given that 2008.

NPV ESG is NEC's 5th financial investment vehicle focused on the solar sector.

The NextEnergy Group, which NEC is part of, is focused on solar as well as complementary modern technologies such as battery storage space.

NEC will implement the value-add technique created and released across its previous four solar investment funds.

NPV ESG is a 10-year closed ended vehicle that will primarily invest in OECD solar assets, as well as power storage, by concentrating on geographies in which NEC has actually currently developed an investment track record and also operating presence and also expertise.

NPV ESG will have preferential access to NextEnergy Group's pipeline of 13GW.

Michael Bonte-Friedheim, Chief Executive Officer and Founding Partner of NextEnergy Group, said: "We are very thrilled to announce the launch of our Fifth Solar Fund, NextPower V ESG, targeting $1.5 bn for solar investments across OECD countries.

" NPV ESG will continue the investment method we successfully conceived and implemented in its predecessor fund NextPower III ESG.

" At full implementation, we anticipate the Fund to own a mounted capacity of 3.5 GW.".

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