NextPower III ESG (NPIII ESG), the third institutional solar fund of NextEnergy Resources, has acquired its second solar PV in Portugal and its first one in Chile.
The capacity of the NPIII ESG in operation and under construction, across 15 projects/portfolios, is currently 430MWp in carefully selected geographies. NPIII ESG successfully secured nine transactions during the COVID 19 pandemic, demonstrating its investment manager’s ability to finalize investments under challenging circumstances. NPIII ESG has six additional exclusive projects with a total capacity of approximately 500MWp and a further pipeline of approximately 2GWp.
The Portugal acquisition consists of a 11.6MW capacity project. The plant will benefit from a long-term PPA scheduled for commissioning this month.
The acquisition in Chile, purchased from Grenergy Renovables, is a portfolio of 4 projects with a combined potential of 42.2 MWp. The portfolio is under the regulatory scope of the PMGD with commissioning set for Q1-Q2/20211.
The investment policy of NPIII ESG is to purchase ready-to-build solar power plants, either in development or in operations through lucrative OECD markets. The investment team is currently concentrating its attention on growing portfolios in its strategically chosen areas, including the United States, Latin America and Europe, where NPIII has pending transactions, and plans to report further acquisitions in the coming months. The fund is particularly interested in investors and has recently secured a new investment from a Canadian institutional investor.
“The investment policy of NPIII ESG is to purchase ready-to-build solar power plants, either in development or in operations through lucrative OECD markets. The investment team is currently concentrating its attention on growing portfolios in its strategically chosen areas, including the United States, Latin America and Europe, where NPIII has pending transactions, and plans to report further acquisitions in the coming months. The fund is particularly interested in investors and has recently secured a new investment from a Canadian institutional investor.”
Filinto Martins, managing director and Head of NPIII ESG.
“Portugal, Chile and many other countries worldwide are stepping-up their commitments to increase clean energy generation. Whether it is to reduce their carbon emissions, start-up the green hydrogen economy or to promote a green recovery from COVID pandemic, we are proud to be contributing to this global effort whilst opening new markets for NextEnergy. We are on track to build an internationally-diversified target portfolio for our private fund NextPower III of around 2.5GW installed solar capacity.“
Aldo Beolchini, managing partner and NextEnergy Capital’s chief investment officer.
