Nexun, a pan-European solar and Battery Energy Storage Systems (BESS) developer, has made notable progress since its launch two years ago.
Guillaume Rivron, partner at Marguerite, in conversation with Josef Kastner and Chloe Durieux of Nexun
You launched Nexun two years ago. Can you share where the company stands today in terms of growth, market presence, and impact?
We’re a pan-European pure developer specialising in utility-scale solar projects and co-located and stand-alone utility-scale Battery Energy Storage Systems (BESS).
Following those first two years we have achieved significant milestones, including onboarding more than 1 GW of projects. Our team has grown to nearly 50 people, with a balanced gender representation, across six markets: France, Germany, Italy, Poland, Spain, and Austria. We have ongoing solar projects at different stages of development, and we are already about to deliver our first two ready-to-build projects.
What key lessons have you learned in scaling a solar energy platform, and how have those insights shaped your current strategy?
Our strategy emphasises diversification across six countries. This allows us to capitalise on varying market opportunities, such as Germany’s favourable renewable energy regime. We are also proactively developing new technologies like BESS in advanced markets like Germany and Italy, adapting our approach to the specific energy regulations in each country.
One crucial lesson has been the importance of attracting and retaining top talent in a competitive environment. We’ve built our team by offering innovative projects and fostering strong company values.
Have there been any unexpected opportunities or market shifts that Nexun has capitalised on? How about unforeseen challenges?
The rapid growth of the renewable energy market has presented both opportunities and challenges. One significant challenge is the insufficient grid capacity to connect new projects. We are actively developing solutions such as BESS co-location, stand-alone BESS, and hybrid solutions to address this.
The increasing trend of integrating BESS to overcome grid capacity limitations has created a significant opportunity for us. However, it also requires careful decision-making regarding market focus, BESS size and duration (2h, 4h or more), and optimal locations. The regulatory landscape for BESS is still developing, adding complexity to these decisions.
Additionally, national politics significantly influence energy production and sourcing. Populist parties often favour traditional energy sources like gas, coal, and nuclear, hindering renewable energy development. We closely monitor political developments and remain agile in adapting to market changes. Some countries, like Germany, Italy, and France, have implemented fast-track solar project authorisation processes, which we leverage to expedite our projects.
Another challenge we face is rapid HR expansion. Recruiting talented people who align with our vision and values is crucial, but it can be difficult when scaling quickly.
How does Nexun differentiate itself from other solar energy platforms?
We distinguish ourselves through our pan-European approach, focusing on both solar and BESS development, and our ability to navigate diverse regulatory landscapes. We prioritise innovation and agility, allowing us to capitalise on emerging market opportunities and address challenges effectively. We see a significant trend towards hybridisation, combining solar, wind, and storage technologies to optimise renewable energy supply and grid balancing. Our commitment to building a strong, values-driven team also sets us apart.
Furthermore, we are closely monitoring the growing trend of Agri-PV (Agrivoltaics). This innovative approach, which combines solar energy production with agricultural land use, offers significant potential for optimising land use and creating synergies between energy and food production. We are exploring opportunities to integrate Agri-PV into our project portfolio, recognising its potential to enhance sustainability and address land-use challenges.
This forward-thinking approach, coupled with our expertise in BESS and hybrid solutions, positions Nexun as a leader in the evolving renewable energy sector. Our advantage lies in its agility and speed in adapting to evolving policies, regulations, and market needs.
We also pride ourselves in having a human approach, meaning that we always prioritise collaboration with local stakeholders and land owners when developing our projects. We believe that sustainability begins with how we shape our business, and we pay a lot of attention to the well-being of our team, upholding ethical practices, and ensuring equal opportunities for all. For us, values and team spirit are not just buzz words but crucial elements that create value for the company.
Looking ahead, what are Nexun’s key goals and vision for the following years?
We are currently focused on expanding our team and project pipeline. By the end of 2025, we aim to have the capacity to develop a multi gigawatt-scale pipeline and establish ourselves as a recognised developer in Europe. 2025 will also mark the launch of our first BESS and hybridisation projects, integrating diverse renewable energy sources and storage technologies to optimise grid utilisation.
Our medium-term goals include solidifying our team, growing our pipeline, and adapting to market demands. We believe that hybridising renewable projects is the key to optimising grid capacity. Combining solar and wind provides a more balanced load profile, and incorporating BESS addresses the inherent volatility of these energy sources. We will continue to expand our team with experts in these new technologies and maintain a motivated workforce.
What role does Marguerite play in Nexun’s long-term strategy, and how do you foresee this partnership evolving?
Having a strong funding partner with a proven track record in the sector is essential. Together with Marguerite, we are developing optimal strategies for company growth and market adaptation. A strong sponsoring partner provides our team, external partners, and investors with confidence and stability.
Having Marguerite as our founding investor opens doors to funding from public banks and reassures other investors about our strategy and vision. Their strong commitment, strategic focus, and support towards our business model provide essential guidance and structure. We benefit from their professional market data integrated into sophisticated financial models, enabling us to analyse risks under various scenarios.
The combined expertise of Nexun and Marguerite creates an excellent foundation for success.