NextPower III International Solar Fund announces second close

The UK-based fund manager has held a second close for it's latest renewables-focused fund.

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  • Fund name: NextPower III International Solar Fund
  • Amount raised: $280 million
  • Target size: $750 million
  • Stage of fundraising: Second close
  • Target IRR: 13%-15%
  • Legal adviser: MJ Hudson
  • Placement agent: Worthwhile Capital Partners

NextEnergy Capital Group announces the second close of NextPower III International Solar Fund with commitments of $280 million. The ESG fund will focus on funding the construction and long-term ownership of new-build solar power plants across international markets. The primary target for the fund are the OECD countries, however, it has the flexibility to invest in other high-growth markets.