Swiss green power producer Aventron AG has achieved financial close on a 50-MW subsidy-free solar project in Spain, it announced on Friday.
The company has signed debt financing agreements with Banco Sabadell for the Bargas project and has subsequently given a notice to proceed with construction to engineering, procurement and construction (EPC) contractor Solarpack Corporacion Tecnologica SA.
The plant will be built on 95 hectares of land near Toledo and will use single axis trackers. Construction work is expected to be finalised in nine months, after which the facility will be able to generate some 90 GWh of electricity per year.
The Bargas project will increase Aventron’s installed capacity to well over 500 MW, the company said.