Nenuphar Advisors group presentation (Jan 2025)

pv magazine’s July review of last year’s Iberian blackout has a blunt diagnosis: the system that left 60 million people without power lacked the storage to absorb the shock. https://www.pv-magazine.com/2026/07/24/the-iberian-bess-paradox/ A year on, storage is still the industry’s unresolved question — not because the case for it is unclear, but because the route to build…

South Africa’s energy regulator NERSA has licensed four more solar projects — 890 MW contracted, just over 1 GW installed — taking its seventh renewables procurement round close to 5 GW of solar alone. What stands out isn’t the capacity. It’s the process discipline: license applications filed in January, public comment invited, a hearing scheduled…

A 1,000 MW interconnector between Portugal and Spain went live this month — quietly rewriting the calculus for hybrid projects across Iberia. Cross-border capacity used to be a constraint developers designed around. Now it’s a variable in the base case. We’re seeing the same shift on the ground: co-located storage retrofits on operating solar assets,…

South Africa’s energy regulator just approved 890 MW of new solar PV generation licences in a single decision. It’s a reminder that across every market we work in — Portugal, Spain, the Gulf, sub-Saharan Africa — permitting and licensing is where projects actually get made or lost, long before a PPA or financial close gets…

South Africa just cleared 890 MW of new solar through its latest competitive bid window, and around the same time a global investor acquired an African development platform carrying a multi-gigawatt pipeline. Regulator and capital moving in the same direction, in the same country, is exactly the kind of signal M&A intermediaries are paid to…

Iberian LCOE 2026: When Cost Stops Being the Problem In Iberia, the conversation around renewables has quietly shifted: cost is no longer the main constraint, revenue is. In a new Nenuphar Advisors market memorandum, we adapt Lazard’s 2026 LCOE+ to Portugal and Spain ( Market_LCOE_Iberia_2026 ) and find that Iberian projects are structurally cheaper than…
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