Everwood Capital Fund IV has proceeded to commission the second of its photovoltaic plants: the 50 MW Cartuja Project, located in Jerez de la Frontera, Cádiz, Spain. The facility, which is already producing, has part of its income pre-established with a PPA with the energy trading company Axpo, but another part of the production goes to the market.
In November 2020, ABEI Energy & Infrastructure began construction work on the plant. The plant has been built on 132 hectares with single-axis tracking and bi-facial modules, generating employment during its construction for more than 150 workers. The construction of the plant was completed last September when it has been connected to the grid and therefore started the sale of electricity in October 2021.
Liberbank is the bank in charge of financing this project. On December 31, 2020, the financing was closed through project finance for an amount of EUR25 million (US$30 million).
