The Spanish bank "Banco Santander" finances 216MW photovoltaics with 128 million euros

The Spanish bank Banco Santander finances 216MW photovoltaics with 128 million euros

Spanish independent power producer (IPP) Opdenergy has secured €128m ($143m) in financing for 216MW of solar power plants in Spain.

The financing has been signed with the Spanish bank Banco Santander for the development and commissioning of five solar plants, three of which are located in the solar region of Badajoz, Extremadura - the region currently hosts the largest solar plant in Europe - and which will be financed with 72.7 million euros for a cumulative capacity of 131 MW.

The other two solar projects will be located in the central western part of the city of Zamora, Castilla y León, and will have an installed capacity of 56 MW and 29 MW each, and the financing of these projects will be 55.3 million euros.

All five projects are currently under construction and all have secured long-term power purchase (PPAs) with undisclosed entities.

Louis Cid, CEO of Opdenergy, said: "Funding these projects supports the stability of our business model and allows us to continue to grow and develop our strategic plan on schedule."

In addition, the Spanish IPP has a portfolio of 1.9 GW of assets in operation and under construction in several markets in Europe, the US and Latin America, while having an additional project portfolio of nearly 12.7 GW of capacity in various stages of development.

Last month, the company received 866 million euros from private equity firm Antin Infrastructure Partners to acquire all of IPP's shares.


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