NextEnergy Capital's solar fund buys 45.3 MWp of PMGD in Chile

London-based NextEnergy Capital Group said Wednesday that it has bought 45.3 MWp of solar generation capacity in Chile through its NextPower III ESG (NPIII) solar fund.

The capacity is tucked under Portfolio Guanaco II and spreads between five separate solar farms located in the central and north regions of Chile.

The Guanaco II portfolio is entitled to regulated revenues under the local PMGD regime, a stabilised price scheme for up to 9-MW plants hooked to a distribution grid.

The projects were developed by a “leading Spanish developer”, described as equipped with a global pipeline of over 6 GW in various stages of development in Europe and Latin America, the investor group said.

The latest purchase is the second portfolio that NPIII acquires in Chile, after securing the original 42.2-MWp Guanaco bundle late last year.

With Guanaco II, the solar fund, which is oriented towards selected OECD countries, now controls 21 plants with a combined installed capacity of 485 MWp, NextEnergy Capital said.

NPIII is eyeing further acquisitions in the coming quarters to bring the fund’s installed capacity to about 1,200 MW by the end of 2021. It currently has three portfolios for 358 MW of installed capacity under exclusivity, and it is negotiating a further 1.7 GW, the fund’s manager added.

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