NextEnergy Capital buys 100-MW solar project in Florida

London-based NextEnergy Capital on Thursday announced the first acquisition for its fifth investment fund, a roughly 100-MW solar project in the US state of Florida.

The purchase follows the USD-480-million (EUR 438m) first close of NextPower V ESG (NPV ESG) this past summer. The investment vehicle targeting mostly solar and energy storage deals was launched in January with the aim of securing commitments of USD 1.5 billion.

The newly-acquired project is located in Highlands County and is in the ready-to-build stage. With construction set to be launched in the first quarter of next year, the photovoltaic (PV) farm should become operational about a year later, in the first half of 2025.

The plant will be equipped with bifacial PV modules and single-axis trackers.

NextEnergy Capital said it currently has several projects in exclusivity and expects to announce further investments by NPV ESG shortly, adding that the US is a key market for its fifth fund. “Given our market presence and experience in the US and NPV ESG’s other target geographies, we expect to continue deploying the fund’s capital rapidly,” said Michael Bonte-Friedheim, CEO of NextEnergy Group.

(USD 1.0 = EUR 0.913)

Choose your newsletter by Renewables Now. Join for free!