GLAS supports €167m project financing for Nexwell Power

GLAS is thrilled to announce the successful closing of a €167 million multi‑tranche project financing supporting the construction of a 248 MWp solar portfolio for Nexwell Power across Spain. The financing, backed by MUFG and ICO – Instituto de Crédito Oficial as senior lenders and complemented by a project holdco facility from Eiffel Investment Group, represents a key milestone in the expansion of flexible renewable energy capacity across the region.

GLAS acted as Facility Agent and Security Agent on the transaction, working alongside a range of leading financial institutions, advisors and legal partners.

This financing provides Nexwell Power with a robust capital structure to advance the construction of its 248 MWp solar portfolio. The multi‑tranche approach offers flexibility in deployment and optimised funding across the project lifecycle. Nexwell Power is well‑positioned to expand its renewable footprint, strengthen its market presence, and continue contributing to Spain’s long‑term decarbonisation and energy‑transition objectives.

About Nexwell Power

Nexwell Power is a leading renewable energy platform focused on delivering flexible, scalable clean energy projects across Europe. Their 248 MWp solar portfolio marks another step forward in supporting Spain’s long‑term decarbonisation ambitions.

The financing was supported by an exceptional group of advisors, including Uría Menéndez acting as legal advisor to Nexwell Power, KENTA CAPITAL as financial advisor, and Aurora Energy Research as market advisor. Watson Farley & Williams served as legal counsel to MUFG and ICO, while Ontier advised Eiffel Investment Group.

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $850bn of assets under administration on a daily basis. For more information, contact media@glas.agency.