- The NextEnergy fund secured an additional US$100 million in capital from a European, German and Nordic pension fund, joining existing NPV ESG investors KLP.
- NPV ESG’s 18GW pipeline includes projects in Spain, Poland, Italy, Canada and the US.
NextEnergy Capital, an energy investor, has received a US$110 million capital commitment for its solar PV and energy storage-focused fund, NextPower V ESG (NPV ESG).
The fund secured an additional US$100 million (£77.9 million) in capital from a European pension fund, joining existing NPV ESG investors KLP, a German occupational pension fund and a large Nordic pension fund. The fund expects to receive more capital soon.
NPV ESG’s 18 gigawatts (GW) pipeline includes projects in Spain, Poland, Italy, Canada and the US. The capital commitment brings the fund’s total to date to US$580 million. This is a third of the way to the US$1.5 billion target (with a US$2 billion) hard cap.
According to the managing director and global head of investor relations of NextEnergy Capital, Shane Swords, the new funding will further accelerate the fund’s positive momentum and growth.
“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,” Swords added.