NextEnergy Capital (NEC), through its NextPower 3 ESG fund, has energised two solar farms totalling 260MW in Spain and Portugal.
The newly energised assets consist of a 210MW solar asset located in Santarem, Portugal and a 50MW solar asset located in Cadiz, Spain.
The combined Santarem and Agenor assets will produce an estimated annual production of 445 gigawatt hours.
This takes the investor’s Iberian exposure to 356MW in operation with an additional 110MW in construction.
The NextPower 3 ESG fund completed its investment period last year and has committed all of its raised capital.
Both Santarem and Agenor benefit from long-term contracted revenues through power purchase agreements (PPAs) with Statkraft.
The PPA covering Santarem is the largest in Portugal to date, said NEC.
Michael Bonte-Friedheim, CEO and Founding Partner of NextEnergy Group, said: “The portfolio continues to demonstrate our execution capabilities with the energisation of both Agenor and Santarem, adding 260MW of solar capacity in Iberia, one of the fund’s key target markets.
“NextEnergy Capital remains committed to driving the transition to clean energy and continues to add significant value to investors as the leading solar specialist investment manager in the renewables sector.
“We look forward to continuing this momentum with future capacity coming online across all of NextEnergy’s funds.”