NextEnergy Capital secures US$232m for solar investments in OECD countries

June 22, 2021
Facebook
Twitter
LinkedIn
Reddit
Email
A solar project from NextEnergy Capital in the UK. Image: NextEnergy Capital.

NextEnergy Capital Group (NEC) has raised an additional US$232 million for its international solar fund, as it targets PV projects in OECD countries such as the US, Portugal, Spain, Chile and Italy.

The solar investor and asset owner’s NextPower III ESG international solar fund (NPIII) has secured commitments from German pension fund Derigo and an unnamed UK institutional investor, taking the fund’s total capital raised to US$530 million.

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

NPIII, which secured commitments totalling US$280 million early last year, has so far acquired 14 solar projects and one portfolio with a total capacity of around 400MW, located in markets such as the US, India, Portugal and Chile.

NEC said the fund has a portfolio of further acquisition targets, including five projects under exclusivity totalling 453MW and a further 351MW under advanced negotiation. These acquisitions are expected to be completed in the second half of this year, bringing the fund’s installed capacity to 1.2GW.

NPIII, which has a final target of US$750 million, is due to close at the end of this year and achieve a portfolio of 2.5GW – 3GW of operating solar upon full capital deployment.

“NextPower III ESG continues to go from strength to strength, with institutional investor interest increasing in parallel as the demand for renewable infrastructure globally continues to grow rapidly,” said Michael Bonte-Friedheim, CEO and founder of NEC.

Read Next

October 21, 2025
Cypress Creek Renewables has achieved financial close on its 75MW Sundance solar-plus-storage project in Elbert County, Colorado.
October 20, 2025
New federal policies in the US will 'cloud' the country’s renewable energy sector, according to a webinar hosted by Wood Mackenzie.
Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany