NextEnergy Capitalβs third solar infrastructure fund has made solar and battery storage acquisitions in Greece.
The NextPower III ESG (NPIII ESG) fundβs acquisitions include six utility-scale solar PV projects totalling 132MWp, and a majority interest in six standalone battery storage projects totalling 400MW.
The deals mark NPIII ESGβs first transactions in both Greece and battery storage.
NextEnergy Capital said NPIII ESGβs portfolio capacity now exceeds 1.7GW with assets across the US, Chile, Spain, Portugal, Poland, India, and Greece.
Aldo Beolchini, managing partner and CIO of NextEnergy Group, said entering the Greek solar market is the next logical step in NextPower III ESGβs international expansion, Greece is the second-largest market in terms of total electricity demand in South-Eastern Europe and offers high levels of solar irradiation, ideal for utility-scale solar deployment.
βI am also excited to see NextPower III ESG make its strategic step into battery storage, as we have done with our other funds, a highly complementary technology to solar with an attractive return profile. NextPower III ESG will benefit from NextEnergy Capitalβs experience in this asset class, having owned battery assets since 2018.β
Filinto Martins, managing director and head of NextPower III ESG, said: βFollowing this acquisition, NextPower III ESG has reached a capacity in excess of 1.7GW, a huge milestone achieved in such a short period.
βWe are continuing to pursue attractive opportunities in the international market to deploy the remaining capital, with a particular focus on solar across Europe, where the opportunities present a logical, attractive investment.β
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