December 11 (Renewables Now) - The European Investment Bank (EIB) said Wednesday it had invested EUR 76.5 million (USD 84.8m) in the 300-MWp Talayuela solar photovoltaic (PV) project in Spain.
The zero-subsidy project is helmed by German wind and solar park operator Encavis AG (ETR:CAP) and UK’s Solarcentury and is the EIB’s second investment this week in solar power in Spain.
On Tuesday, the EU lender announced it would become an equity partner in the Solar Storm 200 platform to install 218 MW of PV parks across Spain.
Talayuela has also received financial support from the EIB and Deutsche Bank in the form of project finance for around EUR 165 million in total and is additionally backed with a ten-year power purchase agreement (PPA).
The Spanish region of Extremadura will be the home to the new solar park. Construction is to begin in the coming weeks, while the facility will be ready in the second half of 2020.
(EUR 1.0 = USD 1.109)