NextPower III (NPIII), NextEnergy Capital’s third institutional solar fund, has made its first acquisition in India with the purchase of a 27.4-megawatt power plant from developer IBC Solar Energy.
IBC Solar Energy, the international project division of IBC Solar, constructed the plant and has operated it since May 2018. The plant has a long-term power purchase agreement in place with an investment-grade off-taker, with a term of 25 years, according to NextEnergy.
NextPower III’s investment strategy is to acquire solar power plants at the ready-to-build status or in operation across high-growth international markets. The investment team is currently looking to increase its portfolios in the United States, Latin America, Southern Europe and India.
“Especially in and after times of crisis, renewable energy and solar energy in particular also have considerable economic potential which must be exploited, next to the contribution to climate protection,” said
