Solaria bags €59.45m from Banco Sabadell for large-scale PV portfolio in Spain

Facebook
Twitter
LinkedIn
Reddit
Email
Image credit: Solaria Energia y Medio Ambiente

Solaria Energia y Medio Ambiente has nailed a long-term financing agreement with Spanish bank Banco Sabadell for the development of four PPA-backed PV plants, totalling 108.5MW.

The bank will provide €59.45 million (US$65.46 million) to the developer for a 16-year period.

The plants are contracted to Spanish oil major Repsol for a period of seven years.

Solaria’s head of investor relations David Guengant told PV Tech in July that the firm had 75MW of operational PV in Spain, of which 35MW was subsidy-backed, and a further 400MW under development.

The Madrid-based firm wants to deploy 650MW of domestic PV annually and become the country’s top independent power producer by 2023, with a total pipeline of 3GW.

In October, the firm expanded the capacity of its major Trillo project in the Guadalajara region from 450MW to 626MW, after revealing that it had secured a favourable grid connection (IVA), a feasibility access permit and debt financing for the plant earlier that month.

The Trillo project is Solaria’s largest and will be one of the biggest solar plants in Europe.

Solaria launched in 2002 as a manufacturer of panels and modules, becoming listed in Madrid five years later.

The prospects and challenges of solar's new era in Europe and beyond will take centre stage at Solar Media's Solar Finance & Investment Europe (London, 5-6 February) and Large Scale Solar Europe 2020 (Lisbon, on 31 March-1 April 2020).

14 September 2022
Join us in London for 2 days as we look at the UK’s new landscape for utility & rooftop solar. Understand the new opportunities within this GW-plus annual market!
29 November 2022
PV ModuleTech EMEA in Madrid on 29-30 November 2022 will address the factors underpinning the changing PV module landscape, gathering together all the key stakeholders across the value-chain from module production to field testing. Join us for presentations from the leading players in the sector, clearly identifying the opportunities and challenges set to impact module supply to Europe and the Middle-East over the next few years.

Read Next

August 10, 2022
Iberdrola has commissioned the 590MW 'Francisco Pizarro' PV project in Extremadura Southwestern Spain, which is Europe’s largest solar plant.
August 5, 2022
UAE-owned renewable energy company Masdar has achieved financial close on its first Azerbaijan solar project with a capacity of 230MW.
August 3, 2022
Spain has started the process to celebrate a fourth round of renewables auction in November with 1.8GW of solar capacity to accelerate its electrification.
August 2, 2022
The building-integrated PV (BIPV) market is expected to reach US$94.4 billion by 2031, up from US$11.7 billion recorded in 2021.
July 28, 2022
Iberdrola has recorded a profit of €2.07 billion in H1 2022 with strong performances in its international business offsetting adverse results in Spain.
July 25, 2022
The European Investment Bank and Iberdrola have signed a €550 million green loan to boost solar PV and wind projects in Spain.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
London
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event