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$108 million) from the EIB, Deutsche Bank, and Rabobank, and reached financial close in June 2020.
Country news
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June 30, 2020
Enlight reaches financial close for 312 MW wind farm in Spain
Enlight Renewable Energy has completed the project financing for the 312 MW Gecama wind farm in Spain with Banco de Sabadell and Bankia, which specialize in financing renewable energy projects.
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June 24, 2020
Iberdrola to invest EUR300m in 400MW solar plant in Spain
Iberdrola is planning significant investment in renewable energy in Castille and Leon region in Spain. The company's plans will contribute to green recovery and create opportunities for sustainable economic development in the region and the transformation of the Velilla community. It will promote more than 1,800 MW of renewable projects in the community and will allocate investments of more than EUR 1.3 billion (US$ 1.5 billion) in the coming years.
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April 15, 2020
Europe’s largest photovoltaic plant commissioned in Spain
The largest photovoltaic plant in Europe has just come into operation last week. It discharged its first MWh of clean energy into the electricity grid on the 6th of April. Iberdrola has succeeded in commissioning the Núñez de Balboa project - the biggest photovoltaic plant in Europe - in record time. It was built in just one year and completed last December.
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March 02, 2020
Repsol do develop 860MW wind project in Spain
Repsol has announced its plans to develop a new wind project of 860 MW in Aragon, Spain. The project, called Delta 2, will be made up of 26 wind farms and will be located between the provinces of Huesca, Zaragoza, and Teruel. It will be developed over the next three years and, when in operation, will allow electricity to be supplied to approximately 1.8 million people, more than the entire population of Aragon. Likewise, its renewable generation will prevent the emission of more than 2.6 million tons of CO2 per year with respect to electricity produced with coal.
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February 19, 2020
Africa Energy Forum 2020 to address SDG7 and Impact of Energy Investment
Under the overarching theme “Investment & Impact,” the Forum’s 2020 programme puts sustainable development and the impact of power projects under the spotlight
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