NextEnergy Capital continues investment charge with New York community solar portfolio purchase

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Helen Alfvegren/Flickr.

Solar investor NextEnergy Capital (NEC) has continued its fledgling foray into the US solar market, completing on a string of community assets across New York.

NEC said NextPower III (NPIII), its third institutional solar fund, had established a new investment platform with investment partners and experienced solar developers in the US to invest some US$100 million into a portfolio of assets comprising around 100MW of solar PV.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The portfolio, yet to be completed, is expected to be operational within 18 months and consists of multiple sites located in the state of New York.

NEC will use equity from the institutional fund to finance the acquisition, with the assets benefiting from long-term fixed revenue from the state’s Value of Distributed Energy Resources mechanism, providing additional revenue over the course of 25 years.

The deal comes just days after NEC completed on a 36.1MW project in Mexico which Aldo Beolchini, the firm’s managing partner and chief investment officer, said was testament to its execution capabilities despite a “difficult business climate”.

“Our investment activities are proving to be quite resilient vis-à-vis the COVID-19 situation and we are on track to complete our investment programme,” he said.

NPIII’s current suite of solar assets either under construction or in operation has a combined capacity of 285MWp, however the fund also has a further ten projects under exclusivity, totaling in excess of 1GWp.

Lorena Ciciriello, managing director and head of debt financing at Next, said the company was expecting to raise more than US$200 million of debt and tax equity financing for its US community solar portfolio.

That commitment comes three months after the second close of NPIII raised a further US$118 million, bolstering its coffers to some US$280 million with a pipeline of assets totaling 2.5 – 3GW in its crosshairs.

Speaking to PV Tech after that raise, NEC chief executive Michael Bonte-Frieheim explained how assets across Europe, America and India were being targeted after the investor racked up a significant portfolio in the UK.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

September 17, 2025
US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.
September 17, 2025
Nexamp has secured US$350 million through a long-term financing facility to expand its 6GW utility-scale solar and battery storage pipeline in the US. 
September 17, 2025
The California State Legislature has passed two bills that aim to reduce energy prices in the state, AB 825 and SB 302.
Premium
September 16, 2025
At RE+, industry leaders pointed to the resilience of the US solar sector, despite challenges brought by the 'One Big, Beautiful Bill' Act.
September 16, 2025
Two Wisconsin Republicans have introduced legislation to open access to community solar projects in the US state.
September 15, 2025
Sunrun has priced a securitisation of leases and power purchase agreements, taking its non-recourse debt capital raised in Q3 above US$1.5 billion. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA