NextEnergy Capital reportedly looking to sell Italian solar assets

Facebook
Twitter
LinkedIn
Reddit
Email
A solar project from NextEnergy Capital in the UK. Image: NextEnergy Capital.

Solar investor and asset manager NextEnergy Capital Group (NEC) is said to be looking to sell a portfolio of solar projects in Italy for more than €400 million (US$453 million), according to Reuters.

Sources told the news agency that NEC has hired banks to help it find a buyer for the 150MW portfolio, which consists of 105 plants across Italy, including in Sicily and Sardinia.

NEC declined to comment when contacted by PV Tech.

Founded in 2007, when it started tapping into feed-in tariffs to deploy solar projects in Italy, NEC has to date invested in more than 240 individual solar plants globally with a combined capacity of over 1GW.

The firm now manages three investment vehicles: two private funds – NextPower II (NPII) and NextPower III ESG (NPIII) – and one listed investment company, NextEnergy Solar Fund.

NPII invests in operating solar plants, focused on Italy, where it owns projects with a total capacity of around 140MW.

The NPIII fund is mainly targeting solar projects in countries such as Italy, the US, Portugal, Spain and Chile. The fund secured additional commitments earlier this year, taking it close to three-quarters of the way to achieving its fundraising target of US$750 million.

As of Q1 2021, Italy’s deployed solar capacity was 21.8GW, according to trade association SolarPower Europe, which said in a recent report that a complicated permitting environment and an unfavourable tender system for solar have kept the country’s PV market from taking off.

Italy’s energy management agency GSE recently launched a new renewables tender that is expected to allocate 3,312MW of solar PV and wind capacity, with the results due to be announced on 28 January 2022.

Read Next

September 29, 2022
Italy has allocated 413MW of solar PV and wind capacity in its ninth renewables auction, according to figures from energy management agency GSE.
September 26, 2022
Plenitude, a renewables subsidiary of oil major Eni, has partnered with IPP Infrastrutture to develop 1.5GW of solar PV and wind projects in Italy and Spain.
September 20, 2022
Spanish solar developer Solarpack has reached an agreement to acquire 100% of the shares of developer Solaer.
September 15, 2022
Declan Flanagan, former CEO of Orsted Onshore, has launched a renewables investment platform with an initial capital of US$100 million.
September 12, 2022
Starlight, the renewables development unit of solar investor and asset manager NextEnergy Group, is progressing with an 87MWp agrivoltaics project in Italy that will be co-located with a 23MW battery energy storage system.
September 8, 2022
Soltec, through its subsidiary Powertis, has entered in an agreement with multi-utility group ACEA to co-develop 340MW of solar PV in Italy.

Subscribe to Newsletter

Upcoming Events

On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)
Solar Media Events
November 29, 2022
Malaga, Spain