NextEnergy Capital to Invest €35 Million to Build Solar Plant in Palmela

The UK-based NextEnergy Capital is investing in its second project in Portugal.

This is the London-based company’s second project in Portugal after an 18-million-euro investment to acquire a photovoltaic plant in Paderne, in Faro.

NextEnergy Capital will invest 35 million euros to build a solar photovoltaic plant in Quinta do Anjo, municipality of Palmela, Setúbal district, reports Jornal Económico.

The project is due to start operating in 2022 and will cover an area of 45 hectares. The plant will have a capacity of 40.5 megawatts-peak (MWp) with over 90,000 solar panels, with the power to supply over 21,000 homes per year. 

NextEnergy Capital describes itself as an investment and asset management company in the renewable energy sector.

According to the Jornal Económico, the project was unveiled today at an event in Palmela.