NextPower III, NextEnergy Capital’s Third Institutional Solar Fund, Announces its First Acquisition in Portugal

NextPower III, NextEnergy Capital’s third institutional solar fund, is pleased to announce its first acquisition in Portugal.

• Project was acquired from the developers Azimuth Molecule and Cardinal Flexivel
• The plant benefits from a 10 year power purchase agreement, and planning to start construction in Q4/2020 and commissioning in Q3/2021
• NextPower III’s capacity in operation and under construction, across 8 projects is now 335MWp in multiple geographies
• NPIII has during the COVID 19 pandemic, successfully closed 4 transactions across different geographies. In total the fund has now closed 8 transactions.
• NextPower III has 7 further projects under exclusivity with a total capacity of circa 450MWp.

NextPower III’s investment strategy is to acquire solar power plants at the ready-to-build status or in operations across high-growth OECD international markets. The investment team is currently focusing its efforts to increase the portfolios in its carefully selected geographies including the USA, Latin America and Europe, where NPIII have ongoing transactions, and expects to announce further acquisitions during the fourth quarter of 2020.