NextPower III enters deal to acquire 43.2 MW Polish solar portfolio

NextPower III ESG (NPIII ESG), the international solar fund of NextEnergy Capital (NEC), has entered into an agreement to acquire a 42.3 MW solar photovoltaic project portfolio in Poland.

The solar PV project portfolio has been awarded a Contract for Difference (CfD) through the 2019 renewable energy auction, allowing the project to benefit from c.100% regulated revenues over 15 years (CPI linked). The portfolio was developed by Green Genius (part of Modus Group), a leading European developer of renewable energy projects.

The completion of the project is expected to occur in the fourth quarter of 2021. Once operational, the portfolio will produce enough clean electricity per year to power the equivalent of up to 24,200 households or remove 11,600 carbon-emitting cars off the road.