NextEnergy Capital plans to announce within the month more than 100 megawatts of further acquisitions in Europe for its latest international OECD Fund, NextPower V ESG (NPV ESG). Further projects are expected to reach the investment committee stage in the fourth quarter.
This follows NPV ESG’s rapid deployment of capital across three large utility-scale solar portfolios in the past three months.
NPV ESG, classified as an Article 9 Fund under the SFDR, has secured $745 million (including $150 million for co-investments) in commitments toward its target of $1.5 billion. The investor base includes a U.K. LGPS investment pool and a Dutch pension fund, with re-ups coming from existing investors in NextPower III ESG, such as KLP, a German occupational pension fund, and a large Nordic pension fund. NextEnergy Capital said it continues to build on its fundraising momentum for NPV ESG, with a number of investors around the globe now in due diligence, and it anticipates furthe