Ellomay receives EUR175 mn refinancing for 300 MW Talasol solar project in Talavan

Talasol Solar SL, in which Ellomay holds a 51% stake has announced that it has signed an agreement with European institutional lenders to refinance its majority-owned 300-MW Talasol solar farm in Spain.

The agreement includes a two-tranche term car loan facility of EUR 175 million (USD 197.59 million) with a fixed annual interest rate at a weighted standard of around 3%. The banks will certainly give one term financing in the amount of EUR 155 million (USD174.65 million) for 22 and a half years, and another term loan of EUR 20 million (USD22.5 million) for 21 years.

The Project located in the municipality of Talaván, Cáceres, Spain is expected to generate approximately 561 GWh per annum.