NextEnergy Capital’s international institutional solar fund, NextPower III ESG (NPIII ESG), has acquired a 39-megawatt capacity plant in Portugal. This marks the fund’s third acquisition in the country.
NPIII ESG is a closed-end, 10-year fund that has raised nearly $300 million already. The firm has 430 megawatts of capacity in operation and under construction in carefully selected geographies, including the United States, India, Chile and Portugal.
The fund’s new plant in Portugal is expected to start construction in second quarter 2021 and come online in first quarter 2022. The plant will benefit from a long-term power-purchase agreement, according to NextEnergy.
“I am very pleased we have added a third Portuguese asset to the NPIII ESG portfolio, which also offers the benefit of a stable long-term PPA in line with our strategy,” said Aldo Beolchini, managing partner and CIO of NextEnergy Capital. “This is yet another transaction that showcases NPI