NextEnergy Solar Fund (NESF), the specialist solar fund, announced that its second international solar co-investment named Santarém, a 210MW project in Portugal in which NESF holds a 13% stake, has signed a long-term Power Purchase Agreement with Statkraft, a leading renewable producer in Europe’s energy market.
Under the agreement, Statkraft will acquire electricity production from Santarém, made up of three photovoltaic solar plants currently under construction in Portugal, for eight years. The PPA builds on the existing successful relationship between NextEnergy Capital and Statkraft, following an earlier signed PPA between the two covering Agenor, a 50MW Spanish solar asset and NESF’s first co-investment, where the company took a 25% stake alongside NextPower III ESG.
Santarém and Agenor were the first direct international co-investments made by the company, sourced alongside its $50m commitment in NextPower III ESG. NextPower III ESG is a $896m private solar fund focused on utility scale solar assets in OECD markets, which provided NESF the opportunity to efficiently and quickly access an established portfolio of operational and in-construction international solar assets. To date, NextPower III ESG has acquired 1.8GW of solar, made up of 149 individual high-quality assets across the USA, India, Chile, Portugal, Spain, Greece, and Poland. Co-investments alongside NextPower III ESG remain attractive to NESF as they are undertaken on a no-fee, no-carry basis.
NESF : Continued expansion for NextEnergy Solar