Successful Acquisition of 110MW Spanish Solar PV Project
London July 2nd, 2025 – NextEnergy Capital is pleased to announce that its latest international OECD Fund, NextPower V ESG (“NPV ESG”), has successfully completed the acquisition of 110MWp solar PV projects in North-Eastern Spain.
This 110MWp solar portfolio marks the seventh investment that the Fund has made. This transaction takes NPV ESG to over 590MW committed to date with a further 525MW of Solar PV and BESS in advanced negotiation. Of the 590MW, more than c.220MW assets are in operation with additional 230 MW of this is finalising construction and will shortly become operational.
To date, NPV ESG has secured $843 million (including $218 million for co-investments) in total commitments with investors ranging from a UK LGPS investment pool and a Dutch pension fund, alongside re-ups from existing NextPower III ESG investors, including KLP, a German occupational pension fund, and a large Nordic pension fund. NextEnergy Capital continues to build on its positive fundraising momentum with a number of investors around the globe currently in due diligence and the team continues to raise towards NPV ESG’s target of $1.5 billion.
The portfolio’s first operational assets are expected to pay dividends in the second half of 2025, NPV ESG leverages NEC’s track record of successful investments in the solar+ infrastructure sector since 2007, with over 530 utility-scale projects acquired and previous Funds delivering superior financial returns to investors. NPV ESG continues to maintain a disciplined contracted revenue model with robust, credit-worthy counterparties enabling the Fund to generate long-term stable cashflows.
NPV ESG is classified as an Article 9 Fund under the EU SFDR providing tangible and measurable impact including biodiversity measures. Upon reaching its investment ceiling and delivering c.4-5GW, NPV ESG is forecasted to generate enough clean energy to power the equivalent of up to 1.1 million households per year and avoid an estimated fossil fuel consumption of up to nearly 220 million m3 of natural gas annually.
NPV ESG’s investment strategy targets the solar+ infrastructure sector in carefully selected OECD markets, with the objective of building significant portfolios in each target market, creating value with a hands-on approach, establishing an operational track record and divesting the portfolio before the end of the Fund’s life in 2033.
Antonio Salvati, Managing Director NextPower V ESG at NextEnergy Capital, commented:
“NPV ESG continues to deploy its capital at pace. We are delighted to conclude this transaction with ib vogt, which takes NPV ESG to an operational capacity of 226MW, further strengthening our position in the European renewable energy market. We continue to invest in the Iberian market through our Madrid and Seville offices. NextPower V expects to double the operational solar capacity in Europe over the next 12 months, driving energy security and affordability for the region.
Andreas Schell, CEO of ib vogt quoted:
“We’re proud to celebrate the successful sale of the Pato project to our partners at NextPower V ESG. Solar energy is one of the most effective tools we have to deliver clean, secure, and affordable power at scale. The successful sale of the Pato solar farm is not only a milestone for our company and our partners—it also brings long-term economic and environmental benefits to local communities and supports national energy resilience. These projects contribute directly to sustainability goals while strengthening local economies, generating clean energy, and protecting ecosystems. We are proud to deliver impactful, future-ready infrastructure that meets investor expectations and drives real-world value across the board.”