NextEnergy Capital (NEC), a global renewables manager specializing in the solar-plus infrastructure sector, has acquired a 110-megawatt solar PV project in central Spain from IB Vogt, a German utility-scale solar developer. Financial terms were not disclosed.
Located outside Segovia, Spain, the solar project is currently in construction and is expected to be energized in the first half of 2025. The project has secured a long-term power-purchase agreement with an investment-grade counterparty and will provide a stable contracted revenue stream for NPV ESG.
NEC said the project features some of the latest solar technologies, including bi-facial modules and tracker technology to enhance performance and efficiency.
The firm acquired the project via its latest international OECD Fund, NextPower V ESG (NPV ESG), which has raised $745 million (including $150 million for co-investments) in total commitments. NEC anticipates further closes for the fund later this year as