Nexwell Power completes construction of 50MW solar power PV plant in Andalucia, Spain
Nexwell Power announced today that it has completed construction and commissioning of its Posadas project, a 50 MW Solar Power PV plant located in Andalucía, Spain. The electricity generated by the project will be sold to Nexus Energía pursuant to a long-term power purchase contract. PowerChina Guizhou provided the procurement and construction works under an EPC agreement, with long-term project financing provided by Triodos Bank.
“We are proud of our team and their ability to deliver our inaugural project successfully, despite the very challenging times” said Mr. Andreas Mustad, CEO of Nexwell Power, “when partnering for our first project in Spain we were delighted to work with institutions that share our deep commitment to change the world for the better, such as Triodos Bank, PowerChina Guizhou and Nexus Energía. This ensures not only the highest ESG standards, but reinforces the impact we seek to create for all our projects”. Renewable energy infrastructure is central to Nexwell Power’s core strategy to help displace and reduce CO2 levels in a meaningful and measurable manner, while also delivering clean, reliable long-term energy to its customers. Avoided CO2 emissions for the Posadas project are projected to exceed 35,946 metric tons in the first full year of operation.
* 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.
