ENERGY STORAGE

NextEnergy Capital solar-storage fund acquires 65.6MW Polish solar portfolio

May 13, 2024

NextEnergy Capital solar and battery storage fund NextPower V ESG (NPV ESG) has made its first acquisition in Poland, a 65.6MW solar portfolio.

The portfolio has 100 per cent contracted revenues that are consumer price index-linked for at least 15 years after being awarded a Contract for Difference (CfD) through the domestic renewable energy auctions.

The portfolio was acquired from an “experienced investor and developer of renewable energy projects” that manages over 2GW of projects in various stages of development in the region, a statement said.

NPV ESG is targeting $1.5 billion with a $2 billion hard cap and recently secured a $265 million second close after investment commitments from a UK LGPS investment pool, a Dutch pension fund, and another re-up from an existing NPIII ESG investor, reaching $745 million (including $150million for co-investments) in total commitments to date.

Aldo Beolchini, managing partner and chief investment officer at NextEnergy Group, said: “The acquisition of the solar PV portfolio in Poland rapidly follows the recent announcement on NPV ESG securing a $265 million second close. As we progress towards our investment ceiling and deliver on our pipeline of projects across Europe, Canada, and the US, we are helping countries make significant strides in reducing their fossil fuel consumption, increasing energy independence and lowering power prices for consumers.”

Antonio Salvati, managing director and head of NextPower V ESG at NextEnergy Capital, added: “We are delighted to announce NextPower V ESG’s inaugural acquisition in Poland, with this 65.6MW solar PV portfolio. The acquisition marks a significant milestone in our commitment to the solar and infrastructure sector, propels our mission of leading the clean energy transition, and at the same time offers attractive returns for investors.”