Renewable energy investment platform Nexwell Power has closed a €167 million (US$191 million) multi-tranche project financing for a 248MW solar PV portfolio in Spain.
The financing will further advance the company’s rollout of renewable energy in the country later this year.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Consisting of seven solar PV plants in the southern region of Andalusia and the northern region of Aragon, they are either mechanically complete or under construction. The company acquired the Spanish portfolio from energy services provider Q Energy last year.
At the time, four of the projects – the 72MW Andújar projects in Jaen, southern Spain; the 26MW Silverio plant in Córdoba and the 45MW Mudéjar project in Teruel, 310km east of Madrid – were expected to be operational in early 2026.
Japanese bank holding Mitsubishi UFJ Financial Group (MUFG) and Spanish public financial institution Instituto de Crédito Oficial (ICO) acted as senior lenders of the multi-tranche financing, as well as a project holdco facility provided by asset manager Eiffel Investment Group (Eiffel).
“Closing this financing marks an important step in Nexwell Power’s strategy of being a long-term owner and operator of flexible renewable infrastructure. This transaction reflects the maturity of our platform and our ability to combine disciplined capital formation with utility-scale execution as we grow a new generation of hybrid renewable assets in Spain,” said Jorge Lara, CEO of Nexwell Power.
