$974m Final Close for NextPower V

London, May 28, 2026 – NextEnergy Capital (“NEC”), a leading global renewables manager specialising in the solar and energy storage infrastructure sector, is pleased to announce it has secured total commitments of $974 million to NEC’s international strategy, comprised of the total commitments received following the final close of NextPower V as well as sizeable commitments for co-investments in the NextPower V strategy (the “Strategy”).

The final close marks a significant milestone for NEC’s latest international strategy, reflecting strong global investor demand for contracted solar and energy storage infrastructure across its OECD target markets. The Strategy brings together a diverse institutional investor base including repeat investors from previous NextEnergy strategies.

The latest and final commitments to NextPower V of $125 million come from a large UK LGPS pension fund, and a major Japanese institution. NEC welcomed several existing investors from NextEnergy III and NextEnergy UK I into NextPower V over the fundraising period, including European pension funds and UK local government pension pools, alongside new investors looking to access and capture the attractive growth landscape for solar PV and BESS through NEC’s specialist expertise and track record.

NextPower V has made substantial progress in capital deployment with the portfolio currently totalling 550MW in capacity across 127 assets and eight transactions. The Strategy is well diversified across multiple OECD markets and is underpinned by a disciplined investment approach focused on contracted revenues and high-quality counterparties, supporting the delivery of stable, long-term cash flows with identified value-add opportunities. The existing base of operational assets serves as a foundation for the completion of NextPower V investment allocation which aims at building a diversified, flexible and resilient portfolio.

Building on NEC’s track record of investing in the solar and energy infrastructure sector since 2007, with over 530 utility-scale projects, the Strategy continues to leverage the firm’s vertically integrated platform and strong origination capabilities. NextPower V benefits from a significant proprietary pipeline, providing high visibility on further deployment opportunities and positioning it to scale towards a c.1GW portfolio.

The Strategy maintains a focus on OECD solar PV assets and adjacent technologies, including battery energy storage systems, and aims to deliver attractive risk-adjusted returns through a combination of disciplined asset selection, active asset management and value enhancement initiatives

The Strategy’s portfolio is well-advanced with committed capacity to date standing at 550MW, with 83% of the portfolio operational, 13% under construction, and 4% Ready-to-Build. Approximately 60% of the portfolio’s capacity is already contracted, representing seven of its eight portfolios.

NextPower V’s latest acquisition is a 73MW advanced Agrivoltaic PV (“AgriPV”) project currently under construction in Central-South Italy. This project represents the Strategy’s largest transaction in Italy and one of the largest AgriPV project in construction in Italy to date.

Michael Bonte-Friedheim, Group CEO at NextEnergy Capital, highlighted:

“Delivering a successful conclusion of the fundraising for our fifth investment strategy, bringing our assets under management to c.$5Bn, is a milestone for our Group.  We are particularly grateful to our investors for their support as we pursue our mission of decarbonising the power generation systems in our key markets, increasing energy security and independence as well as contributing to lower power prices all while delivering superior financial returns. Our team’s focus is now on achieving value for our investors as we finalise deployment of the capital raised.”

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