NextEnergy Capital's 3rd solar fund to get 42.3-MW Polish solar portfolio

• London-based NextEnergy Capital Group claimed today it has actually accepted acquire a 42.3-MW solar project portfolio in Poland via its NextPower III ESG (NPIII) solar fund.

The certain portfolio was established by Green Genius, part of Lithuania's Modus Group, and consists of projects that were awarded 15-year Contract for Difference (CfD) in Poland's 2019 renewable resource public auction. When up and running, the solar parks will certainly have a combined output to provide about 24,000 houses per year.

The bargain, the worth of which was not divulged, marks NPIII's initial acquisition in Poland. It is expected to be finalised in the last quarter of 2021, nevertheless plants are activated.

"We are delighted to introduce this purchase noting NextPower III's very first procurement in Poland, a market that supplies outstanding opportunities for our development approach," said Filinto Martins, managing director as well as head of NPIII.

The most recent purchase expands NPIII's portfolio to a complete set up ability of 530 MWp. The fund, as a result of close at the end of 2021, targets elevating USD 750 million (EUR 636.9 m) and has a hard cap of USD 1 billion. It is focused on picked OECD (Organisation for Economic Co-operation and also Advancement) nations, amongst which the US, Portugal, Spain, Chile and Italy. When completely spent, it will have an installed ability of around 2.5 GW.

NPIII kept in mind is looking at better acquisitions to bring the fund's set up capability to about 1,200 MW by the end of 2021. It currently has 2 portfolios for 315 MW of installed ability under exclusivity and some 1.3 GW in the instant pipe.