NextEnergy Capital, a UK-based investment management business, has acquired a portfolio of approximately 50 MW of solar farm projects in Poland from a Grenevia group company through its latest international OECD fund, NextPower V ESG (NPV ESG).
This acquisition marks NPV ESG’s third completed investment in just three months, following a 100 MW solar project in the USA and a 66 MW CfD portfolio in Europe.
Over the past six months, NPV ESG has significantly expanded its portfolio, committing to 116 MW of operational solar assets and 100 MW of solar assets currently under construction. Additionally, approximately 400 MW are under exclusive negotiation and are expected to close this quarter. Since its launch, NPV ESG has reviewed over 88 GW of pipeline, identifying 18 GW of high-quality investment opportunities, with around 1 GW of solar assets in advanced stages across the US, Poland, Spain, and Italy.
With decreasing costs for solar photovoltaic modules and rising power prices, NPV ESG is currently tracking well above its target internal rate of return (IRR). The fund’s first operational asset is expected to start paying dividends in the latter half of 2024. NPV ESG benefits from NextEnergy Capital’s extensive experience in the solar+ infrastructure sector, having acquired over 400 utility-scale projects and delivered superior returns to investors with previous funds. The fund maintains a disciplined revenue model with reliable, credit-worthy counterparties, ensuring long-term stable cash flows.
Classified as an Article 9 Fund under the EU SFDR, NPV ESG focuses on generating measurable impact, including biodiversity initiatives. Once fully invested and delivering approximately 4-5 GW, the fund is projected to provide clean energy for up to 1.1 million households annually and prevent nearly 220 million m³ of natural gas consumption each year.
Aldo Beolchini, CIO and Managing Partner at NextEnergy Capital said, “We are delighted to announce this latest acquisition for NPV ESG, which again demonstrates NEC as a market leader in the solar space with over 110MW of capacity added to NPV ESG over the last ten weeks.”
Antonio Salvati, Managing Director NextPower V ESG at NextEnergy Capital said, “We are very pleased with the acquisition of our second Polish portfolio. Poland continues to be an excellent market backed by strong government support, power prices, and stalwart counterparties furthering our capacity to generate long-term stable cashflows.”
