NextEnergy Capital Group CEO and founder Michael BonteFriedheim joins Proactive London after signing its first coinvestment transaction for a 25% stake in a Spanish 50 megawatt (MW) solar project currently under construction.

The energisation of the project, in Cadiz, is expected to take place in the first half of 2022. Once energised, the utilityscale project will benefit from a power purchase agreement for the sale of electricity with a highcredit counterparty for around 70% of contracted volumes for an initial fiveyear period.