€177mn For 300 MW Spanish Solar Project

Ellomay Capital’s 300 MW Talasol Solar Project In Spain’s Extremadura Secures €177 Million ($203 Million) From EIB & Deutsche Bank As Project Financing
06:35 AM (Beijing Time) - 29. December 2018
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The 300 MW Talasol Solar Project of Ellomay Capital, for which it has secured project finance from Deutsche Bank and EIB, is being hailed as one of Spain’s largest solar PV power plants and one of the first to be financed outside renewable energy auctions in the country. Pictured is the Plaza Mayor in Madrid, Spain. (Photo Credit: www.goodfreephotos.com)

Key Takeaways

  • Ellomay Capital has secured around €177 million ($203 million) in financing for its 300 MW Talasol Solar Project in Spain
  • EIB has confirmed its contribution of €70 million ($80 million) for the project as part of the Juncker Plan
  • Several facilities from Deutsche Bank and EIB make up total project financing

In its official announcement of securing project finance for the 300 MW Talasol Solar Project through its indirect wholly-owned subsidiary Talasol Solar S.L.U., Israel’s Ellomay Capital says it has raised an aggregate amount of around €177 million ($203 million), comprising several facilities from Deutsche Bank and EIB.

Ellomay Capital is building the plant in the municipality of Talaván in Cáceres, Extremadura as one of Spain’s largest solar PV power plants and one of the first to be financed outside renewable energy auctions in the country. It is expected to start commercial operations in 2020. Talasol’s engineering company Fichtner said the project will generate approximately 561 GWh of power annually.

The European Investment Bank (EIB) has confirmed it will grant €70 million ($80 million) as project finance for the 300 MW Talasol solar power project under Investment Plan for Europe, also known as the Juncker Plan.

“This project will help to increase electricity generation using solar energy, which is important for meeting European renewable energy goals in Spain, as well as for promoting sustainable growth and cutting carbon emissions,” said EIB Vice-President Emma Navarro.

In Spain, EIB has also announced its first Green Loan to Endesa to develop 446 MW of wind and 339 MW of solar PV capacity (see EIB Loan For Endesa’s 18 RE Projects).

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani