Nexun, a platform specializing in greenfield PV projects, has inked a co-development agreement with an unnamed Polish provider. The partnership aims to deliver a robust 206MW pipeline comprising 16 medium-sized solar projects.
Established in January 2023 and backed by Marguerite 3, Nexun has committed to investing up to €60 million in renewable energy infrastructure. This strategic move aligns with Marguerite's overarching goal to invest in projects that actively contribute to climate change mitigation and adaptation.
Crucially, all the projects in this pipeline have secured land leases, and half of them have received the necessary environmental approvals and zoning permits. This positions Nexun for a swift and efficient development process.
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Under the terms of the agreement, Nexun will seek grid connections for the initial 52MW tranche in September 2023, with another approximate 60MW slated for the last quarter of the same year. Poland, a nation still heavily reliant on coal for power generation, presents a critical opportunity for transitioning to renewable energy sources. Nexun's CEO, Josef Kastner, emphasized the significance of this collaboration, stating, “Poland is an essential market for solar power in the EU, which is why this cooperation is a significant milestone in our solar development activities. Our ambition is for Nexun to become one of Poland's leading developers to transfer power production to sustainable energy.”
Beyond Poland, Nexun is actively engaged in negotiations for similar co-development contracts in Germany, Spain, and other regions within Poland. Additionally, the company has embarked on the development of greenfield projects in France, led by its in-house team.
Chloe Durieux, Nexun's Chief Development Officer, expressed excitement about the partnership, saying, “We are excited to have this first co-developer partnership in Poland. Through strategic investments and partnerships, we are determined to drive the adoption of sustainable energy solutions and create a cleaner, more sustainable future for generations to come.”
Nexun has witnessed rapid growth, expanding its team to 12 employees. Notable additions include Chief Financial Officer Benoit Petit and Country Manager for Germany Marco Wilhelm. Durieux also highlighted the diversity of Nexun's team, with over 50% of its members being women. The company anticipates further expansion, with plans to add four more team members by the end of 2023.
Looking ahead, Nexun has set ambitious goals, aiming to establish a portfolio of over 2GW of developed and in-development projects within the next six years. This endeavor underscores Nexun's commitment to spearheading the transition to sustainable and renewable energy sources.
