NextEnergy Capital fund acquires 36.1 MWp Mexican solar project

30 March 2020 - 12:00 am UTC

Solar fund NextPower III has acquired an in-construction 36.1 MWp solar project in the Mexican state of Guanajuato, its first investment in Latin America, the fund’s GP (NextEnergy) said in a 30 March press release.

The project, which should reach COD in 2Q20, has a long-term PPA in place with an investment-grade corporate offtaker and forms part of a wider 108 MWp complex.

Asset manager NextEnergy Capital said that its third fund NextPower III is in “advanced execution on the second phase of the project for a total 108.3 MWp later this year,” and it expects to acquire that phase in the coming weeks.

NextPower III has raised USD 280m to date and has a target size of USD 750m. It currently owns four solar plants, with a total installed capacity of 185.4 MW and with around 1,000 MW in exclusivity, NextEnergy Capital said in its release.

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