NextEnergy Capital (NEC) announced that its latest international OECD Fund, NextPower V ESG (NPV ESG), has inked a binding agreement to acquire a 248 MW portfolio of 12 solar PV projects located in North-Eastern Spain. This portfolio represents the fourth investment for the Fund. This acquisition follows the recent completion of a long-term debt financing deal for an operational portfolio managed by NPV ESG’s predecessor, NextPower III ESG, in the same region.
Over the past six months, NPV ESG’s portfolio has expanded significantly, with 348 MW under construction, 116 MW in operation, and over 500 MW in exclusivity or advanced negotiation. NPV ESG is categorised as an Article 9 Fund under the EU SFDR, providing tangible and measurable impact, including biodiversity initiatives. Upon reaching its investment cap and achieving around 4-5 GW, NPV ESG is projected to generate enough clean energy to supply up to 1.1 million households annually and offset an estimated 220 million m³ of natural gas consumption each year.
NPV ESG’s investment strategy focuses on the solar and infrastructure sector within carefully selected OECD markets, with the goal of building substantial portfolios in each target market, adding value through a hands-on approach, establishing a solid operational track record, and divesting the portfolio by the Fund’s closure in 2033. NPV ESG’s recent acquisitions also include a 100 MW solar project in the USA and two operational CfD portfolios of 50 MW and 66 MW in Europe.
