Solaria has reached an initial non-binding agreement with ABN Amro, Commerzbank and the European Investment Bank (EIB) for the long-term financing of 736 megawatts (MW) of photovoltaic solar plants in Spain for a amount of 375 million euross, the company reported.
Specifically, the agreement is subject to the successful completion of the ‘due diligence’ of the projects and the approval of the decision-making bodies of the entities.
The financing is articulated under the ‘project finance’ modality and it is the largest agreement of this type in the history of the renewables group.
The President of Solaria, Enrique Diaz-Tejeiroconsidered that this financing “will contribute to the achievement of the company’s objectives and, therefore, to ensure the energy transition, which is key for society”.
The company indicated that the energy discharged into the grid by the photovoltaic plants of 736 MW will be 100% renewable and will prevent the emission of 340,000 tons of CO2 into the atmosphere annually. The generation of these photovoltaic plants could supply 416,000 Spanish homes per year.
