Spain's Everwood Capital switches on 50-MW solar park - report

Spanish fund management firm Everwood Capital has switched on the 50-MW Cartuja solar plant in Cadiz province, the southernmost part of mainland Spain.

The move was made by Everwood's fund IV and reported today by local newspaper El Confidencial.

Developed by Madrid-based independent power producer (IPP) Abei Energy & Infrastructure, the photovoltaic (PV) park has a power purchase agreement (PPA) in place for a portion of its output with energy trader Axpo Iberia SL. Cartuja is also selling a portion to the local market, which this Thursday recorded an all-time high price of EUR 288 (USD 333) per MWh, according to the report.

The financing for the solar farm was closed on December 31, 2020, with Spanish lender Liberbank SA (BME:LBK) granting a EUR-25-million project finance loan.

At present, Everwood is negotiating the sale of the guarantees of renewable origin (GdO) generated by Cartuja as a way to generate additional income.

(EUR 1.0 = USD 1.156)

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