Nexwell Power Energizes its 89 MWp Manzanares Solar Power Plant
Nexwell Power announces the energization of its Manzanares 89MWp solar power plant located in Ciudad Real, Spain.
Construction began in March 2021 and was led by Metka, the sustainable engineering solutions business unit of Greek industrial conglomerate Mytilineos. Kommunalkredit, an Austrian bank specializing in infrastructure and energy financing, provided €52 million of non-recourse debt financing for the project. The project was initially developed by Ibox Energy, a Nexwell Power development partner, and is the second project delivered under an agreement for 500 MWac.
“We are particularly proud of this new milestone, not only because it has tripled Nexwell Power’s installed capacity in less than six months, but also because it was achieved in a very challenging environment” said Mr. Jorge Lara, COO of Nexwell Power.
Renewable energy infrastructure is central to Nexwell Power’s core strategy to displace and reduce CO2 levels in a meaningful and measurable manner, while also delivering clean, reliable long-term energy to its customers and communities. Avoided CO2 emissions from the Manzanares project are projected to exceed 62,637 metric tons in its first full year of operation. The construction led to the creation of 220 jobs at the peak of the construction period.
The plant has been interconnected on schedule and is selling its electricity pursuant to a long-term power purchase contract. “The electricity produced by this project should be enough to serve the needs of more than 50,000 households. The majority of the power produced is subject to a fixed price agreement, insulating the offtaker from the uncertainty of pool pricing, which fluctuates with changes in the costs of gas and CO2 emission allowances, ultimately benefiting individual consumers” said Mr. Miguel Muñoz, CCO of Nexwell Power.
* 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.
