January 25 (Renewables Now) - Spanish Grupo Villar Mir's energy arm Villar Mir Energia has secured project financing for a 35-MW wind farm portfolio in Zaragoza province, northern Spain.
The funding was obtained through investment house Rive Private Investment, which was advised by law firm Watson Farley & Williams (WFW), the latter said on Thursday. The amount of the financing was not provided.
According to the press release, the funds were arranged through the acquisition of private bonds by FCT QUARTZ, managed by Rive Private Investment. Netherlands-based Triodos Bank NV extended part of the funds through a project finance structure.
The projects that will benefit from the funds are the under-construction Sotillo wind park, due to be commissioned in the first quarter of 2020, and the Valiente plant, which has been generating electricity since last year. Both wind farms will operate as merchant assets, without subsidy or premium.