NextEnergy Capital's Solar-Storage Fund Raises $745M
- NextEnergy Capital's NextPower V ESG fund raises $745 million for solar and battery storage projects, with a goal of $1.5-2 billion for green energy investments worldwide.
NextEnergy Capital has raised USD 745 million for its fifth investment fund, NextPower V ESG, which focuses on solar and battery storage projects in OECD countries. The fund achieved a second close with USD 265 million in investment commitments from a UK LGPS investment pool, a Dutch pension fund, and an existing NextPower III ESG investor. NextPower V ESG, launched in January 2023, aims to raise between USD 1.5 billion and USD 2 billion to invest in solar and battery storage technologies in Europe, North America, and Chile.
The fund's seed asset is a 100-MW solar park in Florida with a power purchase agreement, and it has exclusivity over an 18-GW pipeline of projects in Spain, Poland, Italy, Canada, and the US. Once fully funded, the fund is expected to deliver 4 GW of capacity, generating green power for up to 1.1 million homes annually. NextEnergy Group CEO Michael Bonte-Friedheim expressed optimism about the fund's global fundraising activities and future investor commitments.
Overall, NextEnergy Capital's NextPower V ESG fund has attracted significant interest from investors worldwide, with a strong focus on investing in solar and battery storage projects in OECD countries. The fund's successful second close and ongoing fundraising activities indicate a growing appetite for sustainable energy investments in the solar and storage sector.
What countries does NextPower V ESG fund focus on for solar projects?
Countries that NextPower V ESG fund focuses on for solar projects include:
- Europe
- North America
- Chile
- Spain
- Poland
- Italy
- Canada
- United States
