(Credit: NextEnergy)NextEnergy Capital, a global solar specialist in the renewables sector, is launching its follow-on private OECD international solar strategy, NextPower V ESG. NPV ESG follows the success of its predecessor OECD international solar strategy, NextPower III ESG, launched in 2018 and closed in 2022. NPV ESG is targeting capital commitments of $1.5 billion with a $2 billion ceiling.
NPV ESG is NEC’s fifth investment vehicle focused on the solar sector. The NextEnergy Group is entirely focused on solar and complementary technologies such as battery storage and providing benefits to investors through its expertise across the entire solar value chain.
NPV ESG offers investors the opportunity to earn risk-adjusted returns from the Solar PV infrastructure asset class, targeting mid-double-digit returns while contributing to the decarbonization of the power generation sector, reducing electricity prices, and increasing energy security. NEC will implement the value-add strategy across its previous four solar investment funds and extensive investment and portfolio management experience. NPV ESG is a 10-year closed-ended vehicle that qualifies as an Article 9 Fund under the EU SFDR.
NPV ESG will primarily invest in OECD solar assets and adjacent technologies, such as energy storage, by focusing on geographies in which NEC has already built an investment track record and operating presence and expertise. NPV ESG will have preferential access to NextEnergy Group’s pipeline of c.13GW, providing investment visibility and sourcing advantage.
NPV ESG is classified as an Article 9 Fund under the EU SFDRs, and at its investment ceiling will produce enough clean energy to avoid an estimated fossil fuel consumption of up to 145.4 million m3 of natural gas per year.
