Spanish renewable power retailer and project developer Capital Energy announced on Thursday that it has closed an agreement to obtain financing for 206 MW of wind and solar farm projects at home.
The company secured EUR-165-million (USD 165m) project finance from Germany's MEAG, the asset manager of reinsurance company Munich Re (ETR:MUV2) and insurance firm ERGO.
The financing will support three wind projects totalling 159 MW, one 8-MW solar PV scheme in development, and the already operational 39.05-MW Las Tadeas wind farm.
The projects, located in Spain's central regions, are in different stages of development. Capital Energy expects that they will start operation between 2022 and 2024, it said.
(EUR 1.0 = USD 1.001)
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