- NextEnergy Group has set up Starlight as a new renewable energy project development platform
- The company will develop and construct 5 GW global pipeline by 2025, starting with solar in the UK and Italy, along with Greece
- Brownfield and greenfield assets will be targeted; later on it may expand into wind, storage and green hydrogen space as well
Renewable energy Company NextEnergy Group has announced the launch of a new renewables platform called Starlight mandated to build a ‘5 GW’ global pipeline by 2025 with an initial target to develop early-stage solar PV projects in geographies where the group is already operating.
The projects it will develop and construct will mainly target greenfield and brownfield sites in association with local developers.
NextEnergy explained Startlight has been set up with an internal reassignment of a team of over 30 professionals and 2.2 GW solar projects at various stages of development as well as operational assets in Italy, and the UK.
This capacity includes the largest operational solar PV plant in the UK Llanwern with 75 MW capacity along with some ‘innovative’ agrivoltaic projects. The management said another 1.3 GW of pipeline has been added in Greece while it assesses more facilities in the US, Poland, Spain, Chile and India.
In the future, Starlight may expand into energy storage, onshore and offshore wind, and green hydrogen projects among its options.
The group is already operating in the investment management domain through NextEnergy Capital, operating asset management through WiseEnergy and now with Starlight in the project development business, it says now it covers the full life cycle of solar and other technologies going forward.
“Our ambition with Starlight is to create an ethical, global project development business that continues to contribute to the NextEnergyGroup mission in leading the transition to clean energy. We are focusing on developing innovative, sustainable and high-quality projects,” said Group CIO and Head of Development at Starlight, Aldo Beolchini.
Earlier this year, NextEnergy Capital raised $896 million for its global solar infrastructure fund citing strong demand for solar, exceeding its $750 million target (see $896 Million Raised For Solar Infrastructure).