NextEnergy Capital Acquires 110MW Solar Project in Spain, Expanding Renewable Portfolio

NextEnergy Capital’s NPV ESG Fund acquires a 110MW solar project in Spain, expanding its renewable energy capacity. Expected to be operational by 2025, this project will enhance Spain’s clean energy output.

NextEnergy Capital (NEC), a global leader in renewable energy investments, has announced the acquisition of a 110MW solar PV project in Central Spain through its OECD-focused fund, NextPower V ESG (NPV ESG). The project, purchased from German solar developer IB Vogt, is located near Segovia and represents a significant step in NEC’s growth strategy within the solar energy sector.

Advanced Solar Project in Spain

Currently under construction, the 110MW project features advanced bi-facial solar modules and trackers that enhance energy efficiency. The solar plant also benefits from a long-term Power Purchase Agreement (PPA) with an investment-grade counterparty, providing a stable revenue stream for NPV ESG. Expected to be operational by mid-2025, this project will contribute significantly to Spain's renewable energy generation, leveraging the region's high solar irradiation and strong infrastructure for solar power.

NPV ESG's Growing Renewable Portfolio

This acquisition is the fund’s fifth major investment in just one year, following the addition of a 248MW solar portfolio in North-Eastern Spain, a 100MW solar project in the U.S., and two operational portfolios in Poland. NPV ESG’s total renewable energy capacity now stands at 574MW across Spain, the U.S., and Poland. With further projects in advanced negotiations, the fund aims to exceed 1GW in the near future.

Long-Term Impact and Environmental Goals

NextPower V ESG, classified as an Article 9 Fund under the EU Sustainable Finance Disclosure Regulation (SFDR), is committed to making a substantial environmental impact. With $745 million in commitments, including $150 million for co-investments, the fund aims to reach 4-5GW of solar capacity. Upon reaching full capacity, the fund is expected to power up to 1.1 million households annually, offsetting nearly 220 million cubic meters of natural gas consumption.

Aldo Beolchini, Chief Investment Officer of NEC, noted that Spain’s ideal conditions for solar power, including high irradiation and well-established renewable infrastructure, make it a prime location for continued investments. Antonio Salvati, Managing Director of NextPower V ESG, highlighted the significance of this acquisition in expanding the company’s influence in a market where they have extensive experience.