Hamburg Commercial Bank is providing a $50m revolving credit facility to NextEnergy III, a private solar infrastructure fund managed by NextEnergy Capital.

The facility will be used to optimise the fund’s capital structure and support value-accretive investments, the partners said.

NextEnergy III, launched in 2018, has invested in 167 assets with a combined capacity of about 1.8GW across OECD countries.

According to company data, 2GW of installed solar avoids around 2m tonnes of CO₂ annually, equivalent to powering 1.3m homes.

HCOB head of project finance Hans Lotzer said: “This financing underlines our commitment to sustainable energy projects and contributes to the diversification of our Project Finance portfolio.”

Executive director Marco Schweer added: “We are very pleased to welcome NextEnergy Group as a new client and would like to thank the NEC team for the trustful cooperation.”

NextEnergy Capital director of investments Jean-Baptiste Bonnaud said: “This RCF provided by HCOB enables us to respond flexibly to investment opportunities while managing cash flows in a way that optimizes returns.”

More information:https://renews.biz/103064/hcob-backs-nextenergy-solar-fund-with-50m/