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.

Voltiq was the exclusive senior debt arranger on the project, and also assisted in PPA sourcing, structuring and negotiation.

More information about this acquisition can be found in the full Press Release.