Toronto, Canada – Nexus Equity LLC, a Wilmington, Delaware-based asset manager known for its green investment focus, has kicked off 2023 with a splash, pouring an estimated €300 million into a massive solar energy project in Ontario, Canada. Announced this week, the 500-megawatt solar array—spanning over 1,200 hectares—promises to light up roughly 300,000 homes across the province, marking one of the region’s largest renewable energy ventures in recent years. While Nexus keeps its financial cards close, industry insiders peg the firm’s assets under management (AUM) at around €38 billion as of early 2023, a figure that’s been climbing steadily since its 2014 launch.
The Ontario project, which broke ground in March, taps into Canada’s aggressive push for clean energy, backed by federal and provincial incentives that could see Nexus reaping double-digit returns. Sources familiar with the deal suggest it’s already generating power, with utility contracts and renewable credits potentially adding tens of millions to Nexus’s coffers annually. “This is a textbook move for Nexus—big bets on sustainability that pay off financially and environmentally,” said Sarah Kline, an energy analyst at GreenTech Insights. Estimates suggest the array could slash upwards of 900,000 tons of CO2 emissions yearly, equivalent to taking nearly 190,000 cars off Canadian roads—a stat likely to resonate with Nexus’s eco-conscious investors.
Though tight-lipped on specifics, Nexus Equity’s CEO, Salvador Perez, hailed the project as a cornerstone of the firm’s strategy. “We’re committed to investments that deliver for our clients and the planet,” Perez said in a brief statement. The company, which boasts a client base of pension funds and wealthy individuals, has quietly built a reputation for outpacing market benchmarks, with returns rumored to hover around 15% in 2022. The Ontario deal alone is said to have created thousands of jobs—perhaps 2,000 or more—spanning construction crews to supply chain roles, boosting local economies still rebounding from pandemic slowdowns.
Nexus’s move comes amid a global surge in renewable energy spending, with the International Energy Agency reporting $1.7 trillion invested in clean tech in 2022 alone. Canada’s solar capacity, though lagging behind wind, jumped 20% last year, per Natural Resources Canada, making Ontario a ripe target. “Nexus is riding this wave smartly,” Kline added, noting the firm’s knack for picking winners in energy and real estate. With a reported €1 billion sustainable energy fund launched in 2022, Nexus appears poised to keep scaling, potentially eyeing €40 billion-plus in AUM by year-end if inflows hold steady.
Details on Nexus’s client roster remain scarce—typical for a private outfit—but whispers in financial circles suggest it serves a over a million accounts, split between institutional heavyweights and high-net-worth players.
As Nexus Equity gears up for a busy Q2, the Ontario solar play signals a firm intent on leading the charge in green finance, even if it prefers to let its results do the talking.
