NextEnergy Capital (NEC), a global renewables manager specialising in the solar infrastructure sector, has held the second close of its fifth strategy NextPower V ESG (NPV ESG) with $745m in capital commitments, having raised an additional $265m since first close.
The fund is still targeting a total of $1.5bn with a $2bn hard cap.
The new capital includes commitments from a UK LGPS investment pool, a Dutch pension fund and another re-up from an existing NextPower III ESG investor. These new investors join existing investors KLP, a German occupational pension fund, and a large Nordic pension fund. NPV ESG will continue welcoming further capital, with several investors currently active in due diligence.
According to a press release, upon reaching its investment ceiling and delivering c4GW, NPV ESG is forecasted to generate enough clean energy to power the equivalent of up to 1.1m households per year and avoid an estimated fossil fuel consumption of up to nearly 220m cubic metres of natural gas annually.
