NextEnergy Capital Divests its 149MW Italian Solar Portfolio

Highlights :

  • The portfolio comprises 105 individual solar plants for a total installed capacity of c.149 MW.

  • Its plants are located across Italy, in regions including Piedmont, Lombardy, Veneto, Tuscany, Puglia, Sardinia, Calabria, Campania, March, Molise, Abruzzo and Emilia-Romagna.

London-based solar investor NextEnergy Capital has announced the sale of the entire portfolio of operating solar projects owned by NextPower II (Fund) in Italy.

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The Fund’s portfolio comprises 105 individual solar plants for a total installed capacity of 149 MW. Its plants are located across Italy, in regions including Piedmont, Lombardy, Veneto, Tuscany, Puglia, Sardinia, Calabria, Campania, March, Molise, Abruzzo and Emilia-Romagna.

NextEnergy Capital launched NextPower II in 2016 with the investment objective of consolidating the fragmented Italian market of operating solar projects, and deploying its technical, operational and financial expertise to improve the technical and operating performance across the portfolio, streamline operating costs and achieve debt financing synergies, the company said in an official statement.

The portfolio was consolidated across 21 individual acquisitions undertaken by NextEnergy Capital during the Fund’s investment period. At sale, the company claims, NextPower II was among the ten largest portfolios of operating solar plants in Italy.

Michael Bonte-Friedheim, CEO and Founding Partner of NextEnergy Capital, said: “We are particularly pleased with the exceptional financial results we have generated for the Fund’s investors. NextPower II is the precursor to NextPower III, a private solar infrastructure fund focused on OECD markets which recently exceeded its US$750m fundraising target. We are a focused specialist in the solar sector and will continue to expand our activities across markets and participate in generating a more sustainable future by leading the transition to clean energy.“

Gianluca Boccanera, NextEnergy Capital MD and Head of Italy, added, “The quality of the investment and portfolio management teams assembled to implement NextPower II’s investment strategy is a testament to NextEnergy Capital’s culture and values. The teams’ ability and combination of skills enabled us to navigate the Italian solar landscape effectively, identify attractive investment opportunities, successfully close 21 investments and generate incremental value through the portfolio consolidation phase. Our operating asset manager, WiseEnergy, made a significant contribution to ensuring this successful outcome.”

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