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Grupo Enhol closes financing for two PPA-backed wind farms in Navarre

Wind turbine at Almeriques wind farm in Spain. Author: Emilio J. Rodríguez-Posada. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

June 6 (Renewables Now) - Grupo Empresarial Enhol SL has closed the financing for two wind farms totalling 90 MW in the Spanish region of Navarre on the back of their 20-year power purchase agreement (PPA).

The Navarre-based renewable energy group announced Wednesday that long-term financing was agreed with Spanish lenders Bankia SA (BME:BKIA) and Banco de Sabadell SA (BME:SAB). The amount of the facility was not specified. The two projects, which are not supported by state aid or subsidies, require an investment of EUR 86 million (USD 97.2m). 

The PPA for the two wind farms was signed with Barcelona-based electricity retailer Factor Energia SA in July 2018. Including these two, Grupo Enhol has a total of five wind projects in Navarre totalling 166 MW. All of them were declared of special interest by the regional government in January 2019.

The two wind farms will be equipped with Nordex-Acciona AW132 turbines with a rated capacity of 3.465 MW. Construction is estimated to last around 15 months.

(EUR 1.0 = USD 1.13)

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Sladjana is the newest addition to the Renewables Now team. She has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry.

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