February 6 (Renewables Now) - Solaria Energia y Medio Ambiente announced on Tuesday it has closed a long-term financing agreement with the Spanish unit of French bank Natixis SA (EPA:KN) for 250 MW of solar projects.
According to the agreement, the bank will provide EUR 125 million (USD 142.32m) to finance a photovoltaic (PV) portfolio that was awarded in Spain's 2017 renewable energy tender. The projects are expected to be commissioned this year, Solaria said.
The agreement will become effective upon the successful completion of the due diligence review of the PV plants and final approval by Natixis' committee.
The closing of this long-term financing for the 250 MW of capacity was one of Solaria's priorities, the company's president Enrique Diaz-Tejeiro noted.
(EUR 1 = USD 1.14)