August 7 (Renewables Now) - Spanish renewable power producer Renovalia Energy SA has secured EUR 29.7 million (USD 33.2m) in project financing for a merchant solar photovoltaic (PV) project of 79.2 MW in the province of Ciudad Real, Spain.
Spain’s Banco de Sabadell SA (BME:SAB) has approved a senior credit loan for five solar farms that will make up the El Bonal complex, according to the lender’s advisor Watson Farley & Williams (WFW).
Renovalia, owned by US private equity firm Cerberus Capital Management LP, plans to build the solar farms on 115 hectares (284.2 acres) of land in Puertollano. Infrastructure specialist Prodiel SL confirmed on Wednesday it had been selected as the engineering, procurement and construction (EPC) contractor for the El Bonal project.
(EUR 1.0 = USD 1.12)