Nexwell Power closes project financing for a 52.4 MWp PV portfolio with Triodos Bank
Nexwell Power, an independent power producer and part of the Nexwell Group, has closed the financing of 52.4 MWp of solar PV with Triodos Bank for a total of €31.8 million. The plants are located in Badajoz (Hornachos and Olivenza), Sevilla (Cantillana) and Ciudad Real (Puertollano) and are expected to start generating power by the end of 2022.
The set of projects, recently acquired by Nexwell Power, were developed by Ibox Energy, a leading company focused on developing solar photovoltaic plants and a strategic partner of the Nexwell Group (an investment group that aims to promote sustainable initiatives to decarbonize the planet). This is the third acquisition carried out by Nexwell Power under the agreement between the two companies. Last year, Nexwell Power acquired a 50MWp plant in Posadas (Córdoba) and an 89MWp plant in Manzanares (Ciudad Real) from Ibox Energy.
The construction of the 52.4 MWp of plants will create approximately 200 jobs at its peak, and it is expected that when the plants are placed in service, they will displace approximately 37,000 tons of CO2 emissions during their first full year of operation.
The plants will sell the power produced of approximately 108 GWh year, sufficient to meet the needs of more than 26,000 households, mainly to Audax Renovables, one of the largest power distributors in the Iberian Peninsula.
The construction of renewable energy plants is a key activity within Nexwell Power’s strategy to significantly and measurably reduce emissions, contribute to improving the environment, and defend biodiversity, while providing long-term clean and safe energy to its customers and their homes.
"We are delighted to announce another transaction with such a relevant entity as Triodos Bank, as well as to partner with Audax Renovables, a leading player within the SME (PYMEs) segment in Spain. The financial closing of these new plants will help us expand our national presence, while strengthening our relationship with Extremadura, Andalucía and Castilla-La Mancha", said Miguel Muñoz, CCO of Nexwell Power.
"At both Nexwell Power and the Nexwell Group, we remain committed to reducing carbon emissions and developing social activities that contribute to a positive impact in the regions where we operate", said Jorge Lara, COO of Nexwell Power. "We collaborate with the different authorities, local and regional, to help improve the general welfare of the population".
For more information: Javier Solís. Head of Communications Nexwell Power. Phone +34 608.528.568 jsolis@nexwellpower.com
* 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.
