Nexwell Power Closes €167 Million Project Financing for 248 MWp Solar Portfolio

Nexwell Power has closed a €167 million multi-tranche project financing to support the delivery of a 248 MWp solar portfolio, further advancing the company’s rollout of flexible clean energy assets across Spain.

The individual projects, located in Andalusia and Aragon, are mechanically complete or under construction and are expected to begin supplying renewable electricity later this year. During construction, the portfolio is expected to create several hundred direct and indirect jobs, contributing to local economic development in these regions.

The financing has been structured as a multi-tranche project finance solution, with Mitsubishi UFJ Financial Group (MUFG) and Instituto de Crédito Oficial (ICO) acting as senior lenders, alongside a project holdco facility provided by Eiffel Investment Group (Eiffel). The combination of long-tenor senior debt and project holdco financing reflects strong lender confidence in the scale, quality, and bankability of this Nexwell Power portfolio.

Once fully operational, the portfolio will generate approximately 500 GWh of clean electricity annually, avoiding around 200,000 tons of CO₂ emissions per year *, equivalent to the average annual electricity consumption of approximately 140,000 households. Nexwell Power’s hybrid development strategy, which combines long-term contracted solar assets with planned storage integration and active portfolio management, will enable this geographically diverse platform to contribute greater grid flexibility and long-term energy price visibility for Nexwell Power’s industrial customers.

“Closing this financing marks an important step in Nexwell Power’s strategy of being a long-term owner and operator of flexible renewable infrastructure. This transaction reflects the maturity of our platform and our ability to combine disciplined capital formation with utility-scale execution as we grow a new generation of hybrid renewable assets in Spain” said Jorge Lara, CEO of Nexwell Power.

Javier Garcia, Head of Structured Finance Iberia at MUFG EMEA, said: “We’re proud to support Nexwell Power on this strategically important transaction, reinforcing the development of bankable, well‑structured renewable projects in Spain and supporting the country’s long‑term decarbonisation pathway. This deal further reflects our commitment to help clients advance their growth strategy while contributing to MUFG’s sustainable financing ambitions.”

“We are pleased to establish a new partnership with Nexwell Power through the financing of this high-quality solar portfolio. The assets benefit from attractive PPAs, providing strong long-term revenue visibility and solid fundamentals. Eiffel’s flexible facility provides a tailor-made financing solution that complements long-tenor senior debt and supports the scaling of Nexwell Power’s renewable platform in Spain” said Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group

Uría Menéndez acted as legal advisor, G-Advisory acted as technical advisor, Kenta Capital acted as financial advisor and Aurora Energy Research acted as market advisor to Nexwell Power in the transaction. Watson Farley and Williams acted as legal advisor to MUFG and ICO. Ontier acted as legal advisor to Eiffel.

For more information: communication@nexwellpower.com

* CO2 avoidance calculation is based on the Operating Margin Grid Emission Factor, gCO2/kWh (including for use in PCAF GHG accounting) for Spain. Since April 1st, 2022: 402. This factor is then multiplied by the expected electricity generated by the assets per year (497 GWh). Equivalent number of households calculated by dividing the expected annual electricity generation by the average annual electricity consumption per household (approximately 3,500 kWh/year)

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