Nexwell Power secures €167 million multi-tranche project financing for 248 MWp Spanish solar portfolio
Type: Financing · Technology: Solar · Country: Spain · Capacity: 248 MW · Value: $167M · Announced: 2026-03-12
Nexwell Power secured €167 million in multi-tranche project financing for its 248 MWp solar photovoltaic (PV) portfolio across Spain. This funding, provided by a syndicate.
Analysis
Nexwell Power, an IPP founded in 2020, secured €167 million in multi-tranche project financing for its 248 MWp Spanish solar portfolio, demonstrating rapid scaling for a relatively new market entrant. The financing structure includes senior debt from Mitsubishi UFJ Financial Group and state-owned Instituto de Crédito Oficial, alongside a project holdco facility provided by Eiffel Investment Group. This capital infusion supports Nexwell's strategy as a long-term owner and operator of flexible renewable infrastructure, with the portfolio projected to generate approximately 500 GWh of clean electricity annually. The deal, advised by Kenta Capital and Aurora Energy Research, further validates the bankability of large-scale solar projects in Spain, contributing to the nation's decarbonization goals.
Key points
- Nexwell Power, founded in 2020, secured €167 million for a 248 MWp solar portfolio.
- The financing includes a project holdco facility from Eiffel Investment Group, alongside senior lenders Mitsubishi UFJ Financial Group and state-owned Instituto de Crédito Oficial.
- The portfolio is expected to generate around 500 GWh of clean electricity annually.
- Legal advisors included Watson Farley & Williams and Ontier for the borrower, and Uría Menéndez for the lenders.
Counterparties
- Instituto de Crédito Oficial (Lender)
- Mitsubishi UFJ Financial Group (Lender)
- Kenta Capital (Advisor)
- Ontier (Legal Sell)
- Eiffel Investment Group (Lender)
- Uría Menéndez (Legal Buy)
- Nexwell Power (Borrower)
- Watson Farley & Williams (Legal Sell)
- Aurora Energy Research (Advisor)