NextEnergy Capital (NEC), a renewable energy merchant bank headquartered in London, has signed a binding share purchase agreement this week to acquire 16.6 MW of solar PV capacity for its private equity fund, NextPower II.
The solar portfolio has been bought from Italian renewable energy company Veronagest SpA, and comprises five individual PV plants located in Sicily. The solar plants were built and supplied by U.S. firm SunPower, and generate around 27.6 GWh per year, meeting the annual power needs of 10,200 local households.
Financing for the current portfolio is delivered under a long-term contract by Unicredit, Dexia Crediop and Societe Generale Milan Branch. According to NEC, NexPower II is on track to deploy €150 million in renewable energy investments over the second half of this year.
“We are delighted to have agreed the acquisition of such a high-quality portfolio of solar assets from an experienced and reputable counterparty like Veronagest,” said NEC CEO and founding partners Michael Bonte-Friedheim. “This acquisition is a further milestone in NEC’s growth trajectory in the European solar sector, where we are one of the top five solar asset owners.”
NEC’s CFO, Aldo Beolchini, confirmed that NextPower II will likely secure further solar acquisitions over the coming months.
Solar portfolio investment vehicles managed by NEC and its various funds amount to more than 450 MW.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.