Fotowatio Renewable Ventures (FRV) has reached a financial close on the 123 MWdc Carmonita Norte solar photovoltaic (PV) cluster in Extremadura, Spain.
Covering an area of 356 ha, the Carmonita Norte cluster will generate around 260 GWh of renewable energy annually, enough to power approximately 93,600 Spanish houses while preventing the release of approximately 193,000 tons of carbon dioxide (CO2).
FRV has concluded the financing agreement with Mitsubishi UFJ Financial Group Inc (MUFG), ING, and Santander Corporate & Investment Banking (CIB) for a total of EUR80.9 million (US$78.05 million). Once the plants are online, a long-term Power Purchase Agreement (PPA) will guarantee the project's revenue.
The first plant of the Carmonita complex is anticipated to be completely operational by the end of 2023.
Iberdrola has obtained the Environmental Impact Statement (EIS) for its 375 MW solar PV project in the municipality of Cedillo, Cáceres Spain.
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Read morePepsiCo Inc has struck a power purchase agreement (PPA) with Iberdrola SA for the output of its 590 MW Francisco Pizarro solar farm in Extremadura, Spain.
Read moreIberdrola has signed a contract with Gonvarri Solar Steel to supply its racking system for a 200 MW solar PV project in Alcantara, Spain.
Read moreThe General Directorate for Energy of the Department of Ecological Transition has issued the administrative authority for the Salto de Chira pumped-storage hydroelectric power station project.
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