The Spanish Government approves the sale of a 619 MW solar photovoltaic portfolio to CTG Spain
London, February 2nd 2023. Nexwell, through its affiliate in Spain, Nexwell Power, has included in a first phase of the operation (closed last December) the following projects: the 89 MW Manzanares plant, and the 50 MW Posadas plant, which have been generating electricity since 2021. Moreover, a 52.4 MW portfolio with projects in in Badajoz, Seville and Ciudad Real, which will begin operating in the coming months.
The Spanish government has approved the sale by Nexwell Power and Ibox Energy, both Nexwell Group companies, of 619 MW of photovoltaic assets to China Three Gorges Spain ("CTGS"). The closing of this transaction allows the companies to start cooperating in other areas of activity, such as asset hybridization and optimization, energy storage, new technologies, as well as the assessment of joint investment opportunities.
The photovoltaic assets sold to CTGS include two operational projects: one of 50 MW in Posadas (Córdoba) and and another of 89 MW in Manzanares (Ciudad Real) that were delivered the past December. Moreover, it also has a 52MW portfolio located in the provinces of Badajoz, Seville and Ciudad Real. These last projects will start generating energy in the coming months.
The remaining out of the 619 MW are in the autonomous communities of Andalusia, Castilla-La Mancha, Valencia and Extremadura.
The transaction has been led and managed by Nexwell Power, an investment platform of the Nexwell Group, acting on behalf of Nexwell Group and Ibox Energy. Nexwell Power is currently in the process of assembling an upcoming portfolio of renewable assets in which it expects to include photovoltaic, storage and hybridization projects.
Andreas Mustad, CEO of Nexwell Power, stated: "The Nexwell team is proud to have closed another major operation. It has demonstrated its ability to execute as well as its high level of expertise, thanks to which the company has become a trusted partner of CTG in Spain and has helped them grow their position in the country within the renewable energy sector. We will continue to invest in clean energy by increasing efforts to contribute to the decarbonization of the planet. We hope and look forward to continuing our long-term partnership with the CTG".
Nexwell and Ibox Energy were advised by Lazard Asesores Financieros (Enrique Namey) and Uría Menéndez (José Félix Zaldívar).
Media Contacts:
Nexwell Power
jsolis@nexwellpower.com
Javier Solis: +34 608 52 85 68
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.
