Ibox Energy's 50 MW solar plant reaches financial close

Ibox Energy, a company owned by Cox Energy and Ibexia Development, has started the construction of the 50 MW solar photovoltaic plant located in the town of Posadas in Spain. 

The facility that requires an estimated investment of about EUR37 million (US$40.02 million). It has secured a financial close from Triodos Bank. 

Once operational, the project can generate up to 100 GWh of energy per year and can offset 25,000 tonnes of carbon emission annually.