New investment sparks Polish solar farm growth

Thursday 1 August 2024

Exciting news in the realm of renewable energy as the renewables management company, NextPower Capital, has recently made a significant acquisition in Poland. The company has successfully purchased approximately 50MW of solar farm projects in the region.

Through its investment fund, NextPower V ESG (NPV ESG), NextPower Capital has shown a strong commitment to expanding its renewable energy portfolio. NPV ESG aims to procure a total of 116MW of operational solar assets alongside 100MW of solar assets that are currently under construction.

Once NextPower V ESG achieves its investment target of around 4-5GW, the potential impact is substantial. The amount of clean energy generated could be substantial, capable of powering approximately 1.1 million households annually. Additionally, this clean energy initiative could help reduce fossil fuel consumption by an impressive 220 million cubic meters every year.

Antonio Salvati, Managing Director of NextPower V ESG at NextEnergy Capital, expressed his satisfaction with the recent acquisition in Poland. Salvati stated, ‘We are very pleased with the acquisition of our second Polish portfolio. Poland remains an attractive market with strong government support, favourable power prices, and reliable counterparties, all contributing to our ability to generate stable, long-term cashflows.’

According to data from Ember-climate, Poland has seen a surge in solar energy development. The solar capacity in the country has grown significantly, jumping from 1.5GW in 2019 to 4GW in 2020, and reaching an impressive 12GW by 2022.

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