NextEnergy Capital's NPV ESG Fund Surpasses $580m Commitments
- NextEnergy Capital's NPV ESG secures $100 million for solar and battery storage strategy, targeting $1.5 billion with $2 billion hard cap. Joining European pension fund, KLP, German, and Nordic pension funds.
NextEnergy Capital has secured an additional $100 million for its fifth strategy, NPV ESG, which is focused on solar and battery storage in OECD markets. The fund is targeting $1.5 billion with a $2 billion hard cap and has already received $580 million in commitments. The new capital comes from a European pension fund, joining existing investors KLP, a German pension fund, and a Nordic pension fund.
NPV ESG aims to invest in the solar plus infrastructure sector in OECD markets, building portfolios in each target market and divesting them by 2033. The fund has already started its investment cycle with a 100MW solar project in Florida and has several other opportunities in its pipeline in Spain, Poland, Italy, Canada, and the US. CEO Michael Bonte-Friedheim expressed satisfaction with the new commitment and highlighted the fund's focus on decarbonization and energy independence.
What is the focus of NextEnergy Capital's NPV ESG strategy in solar industry?
- NextEnergy Capital's NPV ESG strategy in the solar industry focuses on investing in solar and battery storage projects in OECD markets
- The fund aims to build portfolios in each target market and divest them by 2033
- NPV ESG has already started its investment cycle with a 100MW solar project in Florida and has other opportunities in its pipeline in Spain, Poland, Italy, Canada, and the US
- The fund's focus is on decarbonization and energy independence in the renewable energy sector
- The new capital injection of $100 million from a European pension fund brings the total commitments to $580 million, with a target of $1.5 billion and a hard cap of $2 billion.
