Solaria Secures Financing for 252 MW

About Half A Year After Signing PPA For 252 MW PV Capacity Spanish Developer Solaria Energia Has Secured €140 Million in Financing
07:20 PM (Beijing Time) - 30. June 2020
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The solar PPA for 252 MW capacity in Spain with Statkraft has helped Solaria Energia access financing from Natixis S.A. (Photo Credit: Solaria Energia y Medio Ambiente, S.A.)

Key Takeaways

  • Solaria Energia agreed with Natixis S.A. for long term financing of 252 MW solar capacity in Spain
  • The project financing amounts to around €140 million
  • The power will be supplied under a PPA to Statkraft

Solaria Energia from Spain has reached an agreement with Natixis S.A. for the long term financing of 252 MW solar capacity associated to the PPA signed with Norwegian energy company Statkraft that was announced last December 2019 (see Statkraft Signs Up for 252 MW Solar In Spain). Solaria will receive financing of around €140 million.

While no details of the financing deal were announced, according to the Spanish solar project developer, this agreement is subject to a successful completion of the due diligence review of the projects under construction and the final approval of Bank’s risk committee.

Enrique Díaz-Tejeiro, Solaria Energia President said, “To sign for a second time with a reference entity in the infrastructure financing world is a mark of confidence. With this agreement, we have successfully closed the financing of all our PPAs announced until today at very good conditions, which allows us to be very confident for the future.”

Solaria Energia will supply around 500 GWh of solar power annually to Statkraft from five projects with a total installed capacity of 252 MW. Three of these projects will be located in Castilla y Leon and two in Castilla La Mancha, all of which will be connected to the grid progressively through 2020. The long-term PPA will be in effect for 10 years post commissioning.

 

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani