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ib vogt has commenced the construction of the 149 MWp Garnacha solar project in the province of Zamora in Spain.
Norddeutsche Landesbank Girozentrale (NORD/LB) and Santander Corporate & Investment Banking provided the EUR90 million (US$93.7 million) long-term project finance arrangement, which closed on August 25, 2022. Commercial operation (COD) of the solar farm is scheduled for October 2023.
The 224-ha project will consist of more than 270,000 solar panels installed on north-south single-axis trackers for the best performance. The panels will generate 300 GWh per year, enough to power 85,000 homes and save 50,000 tons of CO2 annually.
