Nexun has signed a co-development agreement with an unnamed Polish provider for a 206MW pipeline of 16 medium-sized solar projects.
All of the developments have a land lease signed and 50% of the pipeline has environmental decisions and zoning in place.
Nexun is a platform dedicated to greenfield PV projects established in January 2023.
It is a Marguerite portfolio company invested through Marguerite 3, committing to invest up to €60m. This investment aligns with Marguerite’s strategy to invest in infrastructures that intrinsically contribute to climate change mitigation and adaptation the company said.
Under the Polish agreement, Nexun will apply for grid connection for the first 52MW in September 2023 and another circa 60MW in the last quarter of 2023.
“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,” Said Nexun chief executive Josef Kastner.
“Poland, still relying largely on coal for power generation, desperately needs to switch to renewable energies. “Our ambition is for Nexun to become one of Poland’s leading developers to transfer power production to sustainable energy.”
On top of the co-development, similar contracts are in negotiations in elsewhere in Poland, plus Germany, and Spain. Nexun has also started developing several greenfield projects in France with its own team.
“We are excited to have this first co-developer partnership in Poland,” said Nexun chief development officer Chloe Durieux .
“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 grown to a team of 12 employees, with chief financial officer Benoit Petit and country manager for Germany Marco Wilhelm the latest team additions.
“Our diverse team of more than 50% women is currently based in four countries. We expect the team to increase by four additional people by the end of 2023,” said Durieux.
Nexun aims to establish a portfolio of over 2GW of developed and in-development projects within the next six years.