Spain's Solaria secures loan for 285 MW of solar power at home
Solaria Sigma PV park. Image by Solaria.
Spanish renewables company Solaria Energia y Medio Ambiente SA (BME:SLR) has reached an initial in-principle and non-binding finance agreement for a 285-MW solar photovoltaic (PV) portfolio at home.
The deal was signed with domestic lender Banco de Sabadell (BME:SAB) for an amount of EUR 134 million (USD 138.1m), Solaria announced on Friday.
The financing deal hinges on the successful completion of the due diligence review of the projects under construction and the approval of Banco de Sabadell’s decision-making bodies.
Details about the loan were not disclosed.
The deal with Banco de Sabadell follows an agreement with three banks that was signed at the end of June and provides EUR 371.9 million in long-term financing for a 736-MW solar PV portfolio in Spain.
At the end of September, Solaria had 1,000 MW of power in operation, with a further 1,034 MW under construction spanning five countries. This year alone, the company added close to 300 MW, making progress towards its 18 GW target by 2030.