Everwood secures financing for the 50 MW Cartuja solar PV project in Cadiz

Everwood Capital has secured EUR25 million (US$30.12 million) financing from Liberbank SA for the development of 50 MW Cartuja solar photovoltaic project in Cadiz, Andalucia, Spain.

The project is developed by ABEI Energy holding a minority stake in the project. Everwood owns 62 % leverage in the project after closing the financing.

ABEI Energy has signed a long-term power purchase agreement (PPA) with Axpo Iberia SL for the 50 MW Cartuja solar PV project. The project is scheduled to be operational by 2021.

Watson Farley & Williams has advised Everwood on this transaction and closed on December 31, 2020.