NextEnergy Capital takes leap into Portugal with 17.4MWp acquisition

Facebook
Twitter
LinkedIn
Reddit
Email
NextEnergy Solar Fund's 50MWp Staughton solar farm in the UK. Image: NextEnergy Solar Farm

Solar investor NextEnergy Capital has made its first play into Portugal's solar market with the acquisition of a 17.4MWp project.

Passing ownership from Azimuth Molecule and Cardinal Flexivel, the farm already has a 10-year power purchase agreement (PPA) in place, with plans to start construction in Q4 2020 and commissioning in Q3 2021.

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

It was acquired by NextEnergy Capital's third institutional solar fund, NextPower III fund (NP III), which aims to acquire shovel-ready solar projects or those already in operation across high-growth OECD international markets, and marks NP III's first foray into Portugal.

This new project adds to NP III’s 335MWp of capacity already in operation and under construction, which spans eight projects and multiple geographies. The fund has a further seven projects under exclusivity and a total capacity of circa 450MWp, and is targeting 2.5GW of international installed solar capacity, which Aldo Beolchini, managing partner and chief investment officer, said it was on track to achieve.

Beolchini pointed to how Portugal and “many other countries worldwide are stepping-up their commitments to increase clean energy generation”, with NP III “proud to be contributing to this global effort whilst opening new markets for NextEnergy”.

The fund is currently focused on increasing its portfolios in the likes of the USA, Latin America and Europe, with further acquisitions expected to be announced in Q4 2020. In January 2020, CEO Mike Bonte-Friedheim told PV Tech that Southern and Eastern hotspots – including Portugal, Spain, Poland and Greece – would be targeted.

In April, NP III established a new investment platform with investment partners and experienced solar developers in the US with an intention of investing US$100 million into a portfolio of assets of around 100MW of solar PV.

The fund made its maiden acquisition in India in July, striking a deal with German project developer and EBC IBC Solar for a 27.4MWp project.

This new acquisition in Portgual is set to help the fund “further increase its presence globally”, according to Filinto Martins, managing director and head of NextPower III, who praised the country for its “high growth potential”.

“NextPower III is already at an advanced stage of negotiations to execute further opportunities in Iberia by the end of the year. We see Iberia as a key geography for the fund and we have a defined growth strategy for Iberia,” Martins said.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.
October 9, 2025
The Australian government has announced the results of the fourth Capacity Investment Scheme (CIS) tender, with 6.6GW of renewables awarded long-term contracts.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK