NextEnergy Capital has announced a further capital commitment of $100 million to its fifth strategy, NextPower V ESG, an OECD-focused solar and battery storage strategy targeting $1.5 billion with a $2 billion hard cap that has secured $580 million in commitments to date.
The additional capital was committed by a European pension fund, joining existing investors KLP, a German occupational pension fund and a Nordic pension fund.
NPV ESG started its investment cycle with a 100 MW utility-scale solar project under construction in Highland County, Fla. and has several other investment opportunities from its 18 GW pipeline under exclusivity..
“We are delighted to welcome a new investor into NextPower V ESG, which further accelerates the fund’s positive momentum and growth,” says Next Energy Capital’s Shane Swords.
“It’s wonderful to see NextEnergy Capital’s exemplary track record, extensive experience in solar and vast opportunities in the solar sector being recognised. NextPower V ESG is our largest international fund to date which will provide a real impact and tangible benefits to the communities and countries where its assets are located, whilst also providing an opportunity for investors looking for strong and stable renewable energy returns. This additional capital close is a clear indication to the market that, despite the current environment, investors are still seeking a specialist investment manager with a proven track record of successful delivery, deployment and superior return generation.”