Nexta Capital Partners Acquires a Portfolio of Solar Projects in Italy

London-based Nexta Capital Partners (NCP), an investment holding company active in the development, financing, construction, and operation of alternative energy generation facilities, through its subsidiary Nexta Infrastructure Holdco, has acquired from R.Power Group, a company active in several European countries in the design and development of photovoltaic power generation facilities, a portfolio of nine photovoltaic projects in Italy, with a total peak capacity of 26.5 MW.

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The projects acquired by Nexta Capital Partners have an individual capacity of between 1 and 7.3 MW and will be built in Italian regions, mainly Sicily and Umbria

The final sales agreement is expected by June 2024. This move aligns with Nexta Capital Partners strategy of asset rotation and a deliberate shift from small-scale project development to medium- and large-scale projects.

Guy Laufer (finance and acquisitions area), Antonio Cagnazzi (technical area), and Alessandra Palladini (legal area) contributed to the transaction for NCP.

The acquisition is part of a development strategy aimed at positioning NCP as a primary player in the energy transition in Italy with a model that covers the entire value chain of energy production from renewable sources (from the identification of sites where plants will be built to management).

“The acquisition of this portfolio allows NCP to continue its development path at a sustained pace,” said Michele Mettola, co-founder and director of Nexta Capital Partners. “The goal is to install, by 2025, a power of 1.5 GW With this acquisition we are on track to reach this goal.”

And Klaudiusz Kalisz, a member of R.Power’s board of directors, added: “We are dedicated to the development of medium- and large-scale projects in the Italian PV market. The transaction will enable the company to make additional investments and focus on expanding the new portfolio of innovative projects in this part of Europe.”

Nexta Capital Partners is a London-based investment firm specializing in sustainable energy infrastructure with strong innovative content. In Italy, it has projects of more than 5 GW under development, 60 percent of which are in photovoltaics and the rest in wind power, to which must be added projects of about 800 MW in storage. In addition to co-founders and managing partners, Fabrizio Caputo and Michele Mettola, Nexta Capital Partners’ top management includes Gary Neville, a third (non-founding) partner and former investment director of the Inframed Infrastructure fund.

Last November, Nexta Capital Partners made it known that it will produce green hydrogen in Italy together with Siirtec Nigi, an engineering and construction company specializing in gas processing, with the aim of developing. More specifically, the collaboration between the two companies will target energy production to hard-to-abate industrial sectors (e.g., paper, ceramics, and glass production) and industrial segments where hydrogen can be used in high-temperature combustion processes, reducing CO2 emissions and associated costs.

Last April, Nereus srl, a company under Nexta Renewable Fund Sicav RAIF, a Luxembourg-registered vehicle, which in turn is managed by UK-based Nexta Investment Management, NCP’s asset manager, filed with the Ministry of Environment and Energy Security (MASE) the application for the definition of the contents of the environmental impact study related to the offshore marine wind farm it is building in Puglia, south of the Gargano.

The filing of the MASE documentation follows the proceeding of the application for a marine state concession and the receipt of the general connection solution from Terna, demonstrating compliance with the planned timeline for the development of the park, last October. The Nexta Renewable Fund has a funding target of €500 million and develops and invests in both newly built and already operational renewable energy plants in Italy, Spain, Greece, and Portugal.

NCP’s is the first large-scale initiative in the offshore wind off the Italian coast. Already present in the sector are the ENI group through Vårgrønn, a joint venture that is 69 percent owned by ENI’s subsidiary Plenitude (formerly Eni Gas & Luce) and the rest by HitecVision, the largest private investor in the hydrocarbon sector in Norway. Last summer Vårgrønn decided to participate in the development of Dogger Park, which will be the world’s largest offshore oil park, by taking over the 20 percent stake in the project held by Plenitude itself.

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(Featured image by fabersam via Pixabay)

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First published in Be Beez. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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