NextEnergy scoops up 45.3 MW Chilean solar project

• Portfolio Guanaco II is the fund's second in the nation

NextPower III ESG NPIII ESG), NextEnergy Capital's worldwide institutional solar fund, has actually acquired a brand-new project in Chile.

Portfolio Guanaco II will add a further 45.3 MWp generation capacity to NPIII ESG.

This is the 2nd portfolio NPIII ESG has acquired in Chile, after the procurement of the initial 42.2 MWp Guanaco portfolio in Q4 2020, reinforcing NPIII ESG's placement in the Chilean solar market.

The acquisition of Guanaco II brings NPIII ESG's portfolio to 21 plants for a mounted capacity of 485MWp.

This most recent success additionally shows the investment supervisor's capability and also skill to identify and also get eye-catching investment opportunities.

The purchase of Portfolio Guanaco II covers 5 different projects situated in the Central and North regions of Chile.

The combined generation capacity of these projects adds up to 45.3 MWp, with the portfolio gaining from 100% controlled profits, with the power sold covered by the maintained price scheme PMGD regime.

The portfolio was created by a leading Spanish developer which has an international pipeline of more than 6GW in various stages of development in the European market (Spain, Italy, and also the UK) and Latin America (Chile, Peru, Mexico, Argentina, as well as Colombia).

NPIII ESG is an exclusive fund solely concentrated on the global solar facilities field, principally targeting projects in very carefully picked OECD countries, including the US, Portugal, Spain, Chile, as well as Italy.

NPIII has a significant portfolio of more acquisition targets; there are presently 3 portfolios under exclusivity for an installed capability of 358MW and also an additional 1.7 GW under arrangement.

The financial investment group remains to concentrate its efforts on increasing the portfolio needing to day assessed over 35GW of solar projects in its carefully picked geographies, consisting of the U.S.A., Latin America, and also Europe.

During the 3rd and also fourth quarter of 2021 purchases are expected to bring the Fund's total mounted capability to c. 1200MW.

NPIII ESG is a closed-ended 10-year fund that has already increased US$ 530m (EUR450m), with a tough cap target of US$ 1bn by year-end 2021.

It is targeting 13-15% gross levered IRRs and, based upon the properties it has gotten as well as what it has in exclusivity, it is ahead of this target.

The Fund continues to delight in substantial energy across its scheduled acquisition pipeline as well as its fundraising tasks,

NPIII ESG handling director Filinto Martins stated: "This is our second procurement in Chile taking our overall generation capability in the area to c. 90MWp.

" We have made significant development on our first portfolio in Chile, progressing and also settling buildings and safeguarding financial debt financing.

" Our Chilean portfolio is extremely eye-catching and all our current assets in the region have acquired revenues and capacity settlements for the lifetime of the assets which matches the technique well.

" I am thrilled that NextPower III ESG continues to rapidly expand its portfolio according to our careful pipe as we remain to enhance our international solar asset impact."