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HomeRenewablesNextPower III ESG fund acquires 42.3 MW solar portfolio from Green Genius
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NextPower III ESG fund acquires 42.3 MW solar portfolio from Green Genius

Green Genius, a leading European renewable energy developer and NextPower III ESG (NPIII ESG), the international solar fund of NextEnergy Capital have entered into an agreement by which Green Genius sold a 42.3 megawatts (MW) solar PV portfolio in Poland.

The portfolio consists of 44 individual solar PV projects which have been awarded a Contract for Difference through the 2019 renewable energy auction. As a result, all projects benefit from 100 per cent regulated revenues over 15 years. Once operational, the portfolio will produce enough clean electricity per year to power the equivalent of circa 24,200 households.

“We are extremely proud to be contributing to Poland’s transition towards a greener future,” commented Ruslan Sklepovič, CEO of Green Genius. “Societies around the globe are faced with an acute climate crisis, which calls for an urgent and collective action. This is why our mission as a leading developer of renewable energy projects has never been more important. This successful partnership with NextEnergy Capital is proof that Green Genius is a viable partner for the leading global companies.”

This agreement will mark the third portfolio of solar PV projects developed and sold by Green Genius in Poland since 2019. The first two portfolios with total installed capacities of 45.4 MW and 40.4 MW respectively were sold to Aberdeen Standard Investments.

In total, Green Genius has already invested more than 100 million euros in the Polish solar PV space. The company is currently preparing for the construction of its fourth solar PV portfolio which is expected to have a total installed capacity exceeding 140 MW.

At the same time, this acquisition will bring NPIII ESG’s portfolio to an installed capacity of 530 megawatts-peak (MWp) and continues to demonstrate NextEnergy Capital’s ability and skill to identify and acquire attractive investment opportunities in new and existing jurisdictions.

“We are delighted to announce this transaction marking NextPower III’s first acquisition in Poland, a market that provides excellent opportunities for our growth strategy,” added Filinto Martins, Managing Director and Head of NPIII ESG. “I am excited that NextPower III ESG continues to rapidly expand its portfolio in carefully selected geographies as we continue to increase our global solar asset footprint.”

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