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NextPower III ESG is an international private solar fund managed and owned by NextEnergy Capital and we are pleased to announce the acquisitions of two 100MW solar farms in Lake Placid, Florida.
This is NPIII ESG’s fourth acquisition in America, bringing the total capacity of the fund to 397MW. Long-term Power Purchase Agreements (“PPAs”) will be available for the two 100MW solar projects. These agreements are currently in negotiation for 10 years.
NPIII ESG’s portfolio capacity has increased to more than 1GW in the USA, Chile, Spain, Portugal, Poland, and India. This is a testament to NextEnergy Capital’s ability to find and acquire attractive investment opportunities within carefully chosen geographies.
Currently, NPIII ESG has 300MW of exclusive capacity in Spain, Portugal, and Poland. These are expected to be closed in the third quarter 2022.
NPIII closed its January fundraising period at $896m including a SMA. This was compared to a target of $750m. The fund’s investor base includes top institutional investors from Europe, the Americas, and the UK.
NPIII ESG funds have a positive impact on the communities and countries they invest in. NPIII can expect to have an annual impact of approximately 2 million tCO2e per year if it is fully invested in a capacity of circa 2GW. This is roughly equivalent to providing electricity for over 1.3 million homes each year.
Aldo Beolchini is the Managing Partner and Chief Investor Officer of NextEnergy Capital. He commented, “This acquisition, which has surpassed 1GW capacity, marks a significant moment for NPIII ESG. continues its strong performance and draws on the international experience of the team. As the fund continues to make important achievements, I am thrilled to share the fund’s progress.”
Filinto Martins is NextPower III’s Managing Director and Head also expressed his delight by saying, “I am pleased that the fund continues its growth; we have doubled our US MW capacity and now have 1GW capacity across the portfolio. We continue to seek attractive opportunities on the international market, especially with a focus on Spain, Poland, and Portugal where we have 300MW of exclusive capacity.”