Nexwell Power closes 56 Million of Green Note commitments to finance new solar projects
The Nexwell Group announced that its portfolio company – Nexwell Power – recently completed its first issuance of debt by completing a private placement of green notes in excess of €56 million from a consortium of private investors. The newly raised funds will be used by Nexwell Power to finance the acquisition of several new solar projects in Spain. The financing proceeds will cover the cost of acquiring and constructing the new solar projects in Spain.
Nexwell Power is the Nexwell Group’s second portfolio company. The Nexwell Group also founded and currently manages the Ibexia Group, which is the 60% owner of IBOX, a Spanish joint venture that engages in greenfield solar power development projects in Spain. At present, IBOX has a long lead time pipeline of over 1 GW of solar projects in development stages.
Mr. Pablo Pulido, chairman of the Nexwell Group said, “We believe the new funds raised by Nexwell Power demonstrate our investors’ commitment to our platform. With this capital raise, our current committed projects will be fully equity funded. The Spanish solar market offers significant growth opportunity, and with our differentiated integrated platform and strong access to a development pipeline, we look forward to Nexwell Power delivering accretive growth going forward.”
* This press release has been prepared for the purpose of announcing to the public certain activities of Nexwell Power and the Nexwell Group, and not for the purpose of soliciting any investment. This press release does not constitute any offer or solicitation to purchase or subscribe any security, including but not limited to notes referenced herein, in any jurisdiction.
Nexwell Power, an institutional-grade platform of Nexwell Group, is a next generation IPP focused on developing and operating flexible renewable infrastructure assets to address customer needs.
The Nexwell Group is an investment group that focuses its human and financial capital on long-term sustainable initiatives that have a measurable impact on decarbonizing the planet. Nexwell understands that healthy investments are a result of nurturing one’s community, the environment, and the bottom line. The Group’s mission is to accelerate climate change solutions. Nexwell Power is the Group’s second investment platform.
