NextPower V ESG, managed by NextEnergy Capital, has secured a further capital commitment of $100 million as part of plans to bolster the OECD-focused solar and battery storage strategy.
NPV ESG has secured $580 million in total commitments to date and is targeting $1.5 billion with a $2 billion hard cap.
NextEnergy Capital said the additional capital of $100 million was committed by a ‘European pension fund’, which joins existing investors that include: ‘KLP, a German occupational pension fund and a large Nordic pension fund’.
“NPV ESG focuses on new-build opportunities, contributing to the decarbonisation of the power generation sector, while lowering power prices and increasing energy independency in our target markets," said Michael Bonte-Friedheim, CEO and Founding Partner of NextEnergy Group.
"NPV ESG also makes a significant contribution to local biodiversity, communities and natural capital enhancements. The fund continues to draw significant interest from investors worldwide. I am thrilled to continue our global fundraising efforts and look forward to announcing further investor commitments to NPV ESG and further investments shortly.”
NextEnergy Capital noted that it expects to ‘welcome further capital in short order’, with ‘several investors currently active in due diligence’.
Shane Swords, NextEnergy Capital’s Managing Director and Global Head of Investor Relations, added: “NextPower V ESG is our largest international fund to date which will provide a real impact and tangible benefits to the communities and countries where its assets are located, whilst also providing an opportunity for investors looking for strong and stable renewable energy returns.
“This additional capital close is a clear indication to the market that, despite the current environment, investors are still seeking a specialist investment manager with a proven track record of successful delivery, deployment, and superior return generation.”
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