Nexwell Power closes 37 million euros deal with Rabobank to deploy solar plants in Spain

The company specialized in photovoltaic installations, Nexwell Power, and the banking entity Rabobank have reached a financing agreement of 37.3 million euros for the development and construction of seven new plants located in Andalusia and Extremadura that will begin operations in 2024. They will have with a total power of 46 MW and will be prepared to supply 95,000 MWh of energy per year, enough to satisfy the consumption of 27,000 homes.

Seville, Badajoz and Huelva will host the photovoltaic projects. According to a statement from Nextell Power, two of these photovoltaic projects will be located in the municipality of Carmona (Seville), -with 13 MW of installed capacity-, another two in Badajoz -each one with 13 MW-, one in Mérida -7 MW-, another in Baños de la Encina (Jaén) -with 7 MW-, and the last one in Palma del Condado (Huelva) -6 MW-. The plants, which will avoid the emission of more than 38,000 tons of CO2 per year, will mean the creation of more than 100 jobs in the different locations, during the construction period in its most intense phase.

These facilities, which will have a power of 46 MW, will produce clean energy and reduce CO2 emissions by more than 38,000 tons per year. The financing agreed with Rabobank includes loans to cover project costs and associated VAT, as well as documentary credits for the acquisition of equipment and contracting of derivatives to cover interest rate risk.

The head of corporate communications at Nextell Power, Miguel Muñoz, has assured that the financing agreement with Rabobank "will allow us to increase the installed photovoltaic capacity, in line with our firm commitment to decarbonize the planet." For its part, the financial entity congratulates Nextell Power "for reaching the financial closure of the 46 MW projects" and also celebrates the fact of "being able to contribute to Spain's decarbonization objectives."