NextEnergy Capital has announced the first acquisition for NextPower III (NPIII), its third institutional fund, the first phase of a 108MW solar project.
It says the first phase is a 36.1MW plant located in Guanajuato, which is expected to be commissioned in the second quarter of 2020, while the second phase of the project of up to 108MW is expected to be delivered by the end of this year.
The investment team of the company says is currently focusing its efforts to increase the portfolios in the US, Latin America, Southern Europe and India, where NPIII has ongoing transactions and expects to announce further acquisitions during the second quarter of 2020.
Filinto Martins, Investment Director of NextPower III, said: “This acquisition allows NextPower III to further increase its presence globally and enter the Latin America market where we have secured a significant pipeline of further opportunities.”
Aldo Beolchini, Managing Partner and Chief Investment Officer, commented: “We continue to monitor the Covid-19 situation and are optimistic about the long-term prospects for the solar industry and for our Next Power III fund. We are on track to build a target portfolio for NextPower III of some 2.5GW installed solar capacity.”