NextEnergy Capital has introduced that its third fund, NextPower III ESG, has energised two additional utility-scale photo voltaic property for a complete of 260 MW throughout Spain and Portugal. This takes its Iberian publicity to 356 MW in operation with a further 110 MW in building. NPIII ESG efficiently accomplished its funding interval final 12 months and has dedicated all of its raised capital.
The newly energised property encompass a 210 MW photo voltaic venture situated in Santarém, Portugal, referred to as Santarém, and a 50 MW photo voltaic asset situated in Cadiz, Spain, referred to as Agenor. The mixed property will produce an estimated annual manufacturing of 445 GWh, the equal of powering an estimated 126 700 properties’ annual electrical energy consumption wants.
Each Santarém and Agenor profit from long-term contracted revenues by Energy Buy Agreements (PPAs) with Statkraft. The PPA protecting Santarém is notable, being the most important PPA within the historical past of Portugal thus far, displaying the continued demand for high-quality company PPAs throughout the European market.
NPIII ESG is a non-public fund solely targeted on the worldwide photo voltaic infrastructure sector, principally concentrating on initiatives in rigorously chosen OECD nations, together with the US, Portugal, Spain, Poland, Greece, and Italy. NPIII ESG has 173 photo voltaic and storage property, totalling 1.8 GW. NPIII ESG accomplished its fundraiser in 2022 with a complete of US$896 million, together with an SMA raised. The goal of the fund was US$750 million.
“The portfolio continues to exhibit our execution capabilities with the energisation of each Agenor and Santarem, including 260 MW of photo voltaic capability in Iberia, one of many fund’s key goal markets. NextEnergy Capital stays dedicated to driving the transition to wash vitality and continues so as to add important worth to traders because the main photo voltaic specialist funding supervisor within the renewables sector. We stay up for persevering with this momentum with future capability coming on-line throughout all of NextEnergy’s funds,” mentioned Michael Bonte-Friedheim, CEO and Founding Companion of NextEnergy Group.
“The energisation of Agenor and Santarém provides operational capability to NextPower III ESG and showcase how the staff are repeatedly deploying capital, energising websites, and including era capability throughout its OECD goal geographies. We’re notably happy with our progress in an more and more complicated provide chain and building setting,” commented Antonio Salvati, Managing Director of NextPower III & NextPower V.
For extra information and technical articles from the worldwide renewable trade, learn the most recent difficulty of Power World journal.
Power World’s Spring 2024 difficulty
The Spring 2024 difficulty of Power World begins with a visitor remark from Area on how battery storage websites can function a viable resolution to curtailed vitality, earlier than shifting on to a regional report from Théodore Reed-Martin, Editorial Assistant, Power World, trying on the state of renewables in Europe. This difficulty additionally hosts an array of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage know-how, coatings, and extra.
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