By : Karmactive Staff
NextEnergy Capital is set to acquire a portfolio including 12 solar PV projects with a total capacity of 248 MW in Northeastern Spain.
Photo Source : Google
The agreement will be finalized through their international OECD Fund, NextPower V ESG.
With this acquisition, the Fund has successfully completed its fourth investment.
The team is excited about the opportunity, especially given the current combination of lower costs for solar photovoltaic modules and higher power prices globally.
NPV ESG is projected to generate sufficient clean energy to power up to 1.1 million households annually, while also eliminating nearly 220 million m3 of natural gas consumption each year as a fossil fuel alternative.
Aldo Beolchini, CIO and Managing Partner at NextEnergy Capital, stated that “this latest investment demonstrates NEC’s ability to deploy capital quickly and efficiently.”
Antonio Salvati, Managing Director of NextPower V ESG at NextEnergy Capital, expressed, “We are delighted with the binding agreement to acquire this sizable Spanish portfolio.”
This news comes at a time of significant change, as energy prices in Spain’s domestic market were low this summer due to heavy investment in solar energy in recent years.
Donoso José, CEO of UNEF, the Spanish Solar Association, noted that this is a paradoxical time where they must deal with cheap energy in a complex system that does not accurately reflect the real costs of energy.
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