NextEnergy completes $900m solar financing drive
- NextPower III ESG fund to target PV projects in OECD countries such as Spain
Solar company NextEnergy Capital has actually increased $896m after last close of its NextPower III ESG fund.
The capital raised is above the target of $750m and also makes this NEC's biggest exclusive fund to date.
Capital was dedicated by pension funds, insurer, fund-of-funds and family offices.
NPIII ESG will certainly focus on the global solar facilities market, primarily targeting projects in picked OECD nations, consisting of the United States, Portugal, Spain, Chile, and Poland.
The portfolio currently has actually a mounted capacity of 742MW spread out across 23 projects and 2 portfolios, having assessed in excess of 35GW, while the fund has an additional 521MW in exclusivity as well as 3GW under evaluation.
Michael Bonte-Friedheim, Team Chief Executive Officer and Establishing Partner, included: "There was a massive amount of financier passion in the fund as capitalists' appetite towards solar, ESG and sustainability funds continued to grow. I am expecting the continued advancement of the fund's portfolio provided the depth and top quality of its existing pipe.
" This is an amazing time for NEC as we continue to demonstrate to investors our strong track record as the leading financial investment supervisor in the global solar market and also remain to identify eye-catching financial investment chances in the sector for capitalists to access."