Nexun Signs Co-Development Agreement for 16 Solar Projects in Poland

Nexun, a Marguerite portfolio company, signed a co-development agreement in Poland for a 206 MW pipeline of 16 medium-sized projects. All projects have a land lease signed, and 50% of the pipeline has environmental decisions and zoning in place.

Nexun is a platform dedicated to greenfield solar photovoltaic (PV) projects established in January 2023. It is a Marguerite portfolio company invested through Marguerite III, 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.

Under the cooperation agreement in Poland, Nexun will apply for grid connection for the first 52 MW in September 2023 and another circa 60 MW in the last quarter of 2023.

Josef Kastner, CEO of Nexun, comments: “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. 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 agreement in Poland, other such contracts are in negotiations in Germany, Spain, and Poland. At the same time, Nexun started developing several greenfield projects in France with its own team.

Chloe Durieux, Chief Development Officer at Nexun, comments: “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 grown to a team of 12 employees, with CFO Benoit Petit and Marco Wilhelm, country manager for Germany, being 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 Chloe Durieux.

Nexun aims to establish a portfolio of over 2 GW of developed and in-development projects within the next six years.