NextPower III’s investment strategy includes acquiring solar power plants at the ready-to-build status or in operation across high-growth international markets
USA-headquartered NextEnergy has acquired its first solar asset in India. The 27MW project, has been acquired from IBC Solar, and is located in Odisha.
“This acquisition allows NextPower III to further increase its presence globally and enter the Asia Pacific market where we have secured a pipeline of further opportunities. India has a strong focus on the transition to renewable energy and we are proud to play a significant part in that,” said MD and head of NextPower III Filinto Martins.
Focus on high-growth international markets
NextPower III’s investment strategy includes acquiring solar power plants at the ready-to-build status or in operation across high-growth international markets.
The company’s investment team is currently making efforts to increase company’s portfolio of assets in USA, Latin America, Southern Europe and India. Acquiring its first project in India also marks the entry of the company in the Asia-Pacific market.
It has eight further projects under exclusivity with a total capacity of 800MW. The recent solar project in Odisha, that the company acquired, was built by Germany-based IBC Solar.
“The solar park in Odisha is a project we are definitely very proud of. It not only was the first project in Eastern-India that was fully developed, financed, constructed and commissioned by IBC SOLAR Energy alone but also an important step for the economic development in Odisha,” noted IBC Solar chief executive Udo Möhrstedt.
