EIB invests in La Cabrera Solar Project in Spain
The European Investment Bank (EIB) is investing EUR43.5 million (US$ 48.7 million) to finance the largest solar project in Andalusia and one of the most powerful in Spain.
This investment, backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
The 200 MW La Cabrera Solar Project includes the construction and operation of four 50 MWp photovoltaic solar plants in Alcalá de Guadaira, Seville.
To be more specific, the four 50 MWp photovoltaic solar plants are the following:
- 50 MW El primo Alemán solar project
- 50 MW Hazas de los Sesenta solar project
- 50 MW Los Gonzalez solar project
- 50 MW Cerrado Cabrera solar project
The four plants will provide enough clean energy to supply nearly 145,000 households per year and will contribute to reducing CO2 emissions by 300 metric kilotons (kt) CO2-equivalent per year.
The project, sponsored by Encavis AG and developed by Solarcentury, secured senior debt facilities for an aggregate amount of EUR96 million (US$108 million) from the EIB, Deutsche Bank, and Rabobank, and reached financial close in June 2020.
