NextEnergy fund acquires 200 MW of solar projects in US

NextPower III ESG (NPIII ESG), a private solar fund managed by London-based NextEnergy Capital, has acquired two solar projects of 100 MW each in the US, doubling its US capacity to 397 MW and bringing its overall portfolio capacity to above 1 GW.

The two projects are located in Lake Placid, Florida and are currently negotiating power purchase agreements (PPAs) for all of their generation for 10 years. In addition to the US, NPIII ESG has projects in Chile, Spain, Portugal, Poland and India. The fund also has a further 300 MW under exclusivity in Spain, Poland and Portugal, with completion of the acquisitions expected in the third quarter of 2022.

NPIII ESG closed at USD 896 million (EUR 848m) in January. When fully invested, its portfolio is anticipated to represent an installed capacity of around 2 GW.

(USD 1 = EUR 0.946)

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