Spain's Solaria signs financing for 108.5 MW of PPA-backed PV

El Baldio solar park in Spain. Image by Solaria (www.solariaenergia.com)

November 13 (Renewables Now) - Spanish solar company Solaria Energia y Medio Ambiente SA (BME:SRL) has signed a long-term financing agreement with Banco de Sabadell (BME:SAB) to support 108.5 MW solar photovoltaic (PV) projects.

In a brief statement on Tuesday, Solaria said it arranged EUR 59.45 million (USD 65.4m) in project finance with a 16-year term. The four solar farms are backed with power purchase agreements (PPAs) with Spanish oil giant Repsol SA (BME:REP). No other details have been provided.

Late last year, Solaria announced two separate seven-year PPAs with Repsol for 102 MW of solar power capacity. The first off-take deal for 52 MW was unveiled in November, with Solaria saying that the parks associated with that PPA would be commissioned in the first half of 2019.

(EUR 1.0 = USD 1.1)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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