NextEnergy Capital (NEC) has completed the first close of its fifth investment vehicle, NextPower V ESG (NPV ESG), a flagship OECD-focused solar strategy targeting $1.5 billion of capital commitments with a $2 billion hard cap.
NPV ESG received $480 million of commitments in the first close, which included $330 million in direct commitments and $150 million in co-investment allocations. The fund’s investor roster included KLP, a German occupational pension fund and a large Nordic pension fund. NPV ESG expects to add additional investors in its second close later this year, with several investors now active in due diligence.
NPV ESG is a 10-year closed-ended Article 9 Fund that offers investors opportunities in solar photovoltaics and energy-storage infrastructure assets in OECD geographies. The fund’s primary geographic targets include Europe, North America and Chile, where NextEnergy Capital manages an extensive solar PV infrastructure asset portfolio. NEC has ide
