UK-based renewables manager NextEnergy Capital (NEC) has acquired a 110 MW PV project in Central Spain via its NextPower V ESG (NPV ESG) fund. The project, located near Segovia, is currently under construction and expected to be operational by mid-2025. It will feature advanced bifacial modules and trackers for increased efficiency. Once complete, it aims to power 1.1 million homes annually and offset nearly 220 million m3 of natural gas consumption. As per NEC, this is NPV ESG’s fifth acquisition in a year, raising its total portfolio capacity to 574 MW. NEC claims the project’s revenue stream is secured through a long-term PPA with an investment-grade partner. The company also highlights its $745 million investor backing from pension funds and other investors.
