Renewable energy-focused NextEnergy Capital said on Tuesday it had raised an initial $480 million for its fifth investment fund focused on solar and battery storage assets across OECD countries.<\/p>\n
The first close of its NextPower V ESG strategy included $330 million in direct commitments to the fund and $150 million from investors planning to co-invest alongside it. Investors included Norwegian pension fund KLP, it said in a statement.<\/p>\n
NextEnergy said it was in talks with additional investors and intended to do a second close of the fund later in the year, on the way to hitting its target raise of $1.5 billion, with a $2 billion hard cap.<\/p>\n
The fund will invest for 10 years and is targeting mid-double-digit returns from projects focused in Europe, North America and Chile, with a pipeline of assets that could produce more than 14 gigawatts of power already identified, it said.<\/p>\n
If the full amount is raised and deployed, the fund expects to produce enough clean energy to power the equivalent of up to 750,000 homes per year, NextEnergy said.<\/p>\n
“NPV ESG’s first close represents an important milestone as the fund secures strong investor support from the get-go,” NextEnergy’s chief executive and founding partner, Michael Bonte-Friedheim, said.<\/p>\n
“Utility-scale solar represents a very large investment opportunity set globally, with total spending in 2023 forecast to reach $382 billion, and we aim to continue to our leadership role in the sector.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Renewable energy-focused NextEnergy Capital said on Tuesday it had raised an initial $480 million for its fifth investment fund focused on solar and battery storage assets across OECD countries. The first close of its NextPower V ESG strategy included $330 million in direct commitments to the fund and $150 million from investors planning to co-invest alongside it. Investors included Norwegian pension fund KLP, it said in a statement. NextEnergy said it was in talks with additional investors and intended to do a second close of the fund later in the year, on the way to hitting its target raise of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-588955","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/588955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=588955"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/588955\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=588955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=588955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=588955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}