July 19 (Renewables Now) - Solaria Energia y Medio Ambiente SA (BME:SLR) announced on Thursday it has signed a long-term financing agreement with the Spanish unit of French bank Natixis SA (EPA:KN) for EUR 130 million (USD 145.96m).
Тhe project finance arrangement is for 250 MW of photovoltaic (PV) capacity awarded to Solaria in Spain's 2017 renewable energy tender. Funds shall be withdrawn in accordance with the pace of construction.
The PV parks are under construction and expected to be connected to the grid this year, Solaria said.
The closing of this long-term financing for 250 MW of capacity supports Solaria's efforts to reach 3.3 GW of solar by 2023, the company's president Enrique Diaz-Tejeiro stated.
(EUR 1 = USD 1.12)