NextEnergy PV-storage fund steps in Poland with 66-MW purchase

London-based NextEnergy Capital today said that its fifth investment fund has stepped on the Polish market by acquiring 65.6 MW of renewable energy capacity.

The portfolio consists of operating plants run under long-term contracts awarded in Poland’s Contract for Difference (CfD) auction mechanism. The vendor of the assets is a “an experienced investor and developer of renewable energy projects” whose name was not disclosed.

The newly-acquired plants will be held by NextPower V ESG, an investment vehicle launched in early 2023 and targeting solar and battery storage projects in selected OECD countries. The fund achieved a second close in April, raising USD 745 million (EUR 691.2m) so far. It has a fundraising goal of USD 1.5 billion and a hard cap of USD 2 billion.

NextPower V ESG’s seed asset is a 100-MW solar park with a power purchase agreement (PPA) that is being built in the US state of Florida. The platform also has exclusivity over an 18-GW pipeline of projects in Spain, Poland, Italy, Canada, and the US.

(USD 1.0 = EUR 0.928)

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