NextEnergy Capital, a London-based solar investor, has announced the sale of NextPower II (Fundfull)’s portfolio of operating solar projects in Italy. The portfolio of the Fund includes 105 solar plants with a total installed capacity of 149 MW. It has plants in Piedmont, Lombardy, Veneto, Tuscany, Puglia, Sardinia, Calabria, Campania, March, Molise, Abruzzo, and Emilia-Romagna, among other places.

During the Fund’s investment tenure, NextEnergy Capital consolidated the portfolio through 21 separate acquisitions. As per the company statement, NextPower II was one of the top ten portfolios of functioning solar plants in Italy at the time of sale. In addition, NextEnergy Capital launched NextPower II in 2016 with the goal of consolidating the fragmented Italian market of operating solar projects and deploying its technical, operational, and financial expertise to improve portfolio technical and operational performance, reduce operating costs, and achieve debt financing synergies.

In October 2021, Apollo stated that funds managed by its affiliates, the Apollo Funds, had agreed to invest $824 million in a 2.5 GW renewable energy generation portfolio with NextEra Energy Partners, LP under a convertible equity portfolio financing agreement. The Apollo Funds agreed to make the investment as part of NextEra Energy Resources, LLC, a subsidiary of NextEra Energy, Inc., selling 50 per cent of the portfolio to NextEra Energy Partners.