Fotowatio Renewable Ventures (FRV) has reached financial close for the 50MW La Solanilla Solar Farm in Trujillo, located in the Spanish province of Cáceres.
FRV signed off on the financing agreement with Banco Sabadell, with construction on the installation slated to begin by the end of 2018. The project will be located in Trujillo, 50 km from the capital of Caceres, in the region of Extremadura.
Once completed, the site will generate around 103 GWh of clean energy annually, enough to supply 25,000 Spanish homes with electricity and cut the emission of approximately 1 kilogram of CO2 per hour.
The site will be constructed by the Spanish company Cobra under an EPC contract, with construction expected to create 300 local jobs. Once operational, five of those jobs will be maintained.
Andrea Fontana, managing director of FRV Europe, said: “We are honored to be working in Extremadura again and particularly in Trujillo, where the foundation group of FRV initiated its path in renewables 12 years ago. This project is the result of the clear focus of Extremadura’s Government in the renewable energy sector, a mindset that is also shared by Trujillo City Council.
“The financial agreement to develop La Solanilla Solar Farm highlights FRV’s commitment to carry out green energy projects that create green jobs and boost local economies. With this agreement that will help promote the use of renewable energy resources in Spain, we aim to continue being a global reference in sustainable and environment-conscious energies”.
Josep Montañés, managing director of project finance and specialized businesses for Banco Sabadell, added: “This new project strengthens our vision and commitment with the development of initiatives related to the renewable energy sector. In addition, the commissioning of this plant has the support of FRV, a company with extensive experience in the industry that shares our same ambition to foster the use of renewables”.