NextEnergy Capital’s third solar fund, NextPower III, has made its foray into the Portuguese market with the acquisition of a 17.4MWp solar plant.
The solar plant was acquired from the developers Azimuth Molecule and Cardinal Flexivel and has a 10-year power-purchase agreement in place.
The acquisition brings NextPower III’s capacity to 335 megawatts in operation and under construction across eight projects. The fund has closed four transactions during the pandemic. NextPower III has an additional seven projects under exclusivity with a total capacity of 450 megawatt power.
“This acquisition allows NextPower III to further increase its presence globally and enter the European market in a country with high growth potential,” said Filinto Martins, managing director and head of NextPower III. “NextPower III is already at an advanced stage of negotiations to execute further opportunities in Iberia by the end of the year.”
He added: “We see Iberi
