Renovalia secured a financing for 79.2 MW merchant PV project in Spain

Renovalia Energy SA has secured EUR29.7 million(US$33.2 million) in project financing for 79.2 MW merchant solar photovoltaic project located in Puertollano, province of Ciudad Real, Spain. Banco de Sabadell SA has approved a credit loan for five solar farms that will make up the El Bonal complex, Watson Farley & Williams (WFW) as lenders advisor.

Prodiel will be in charge of building the photovoltaic park that has a High Voltage interconnection with the execution of the 220/20kV transformer substation and its connection through a double circuit airline to an existing airline. The energy generated will be injected into the system at the Elcogas REE substation, which is located in the municipality of Puertollano itself. The project is expected to be connected to the network in the third quarter of 2020.

The plant will consist of 250,000 solar panels, supported on 4,000 fixed-structure tables. These will cover the 115 hectares of land that form the park. The park's production will be 130 GWh per year, which will prevent the emission of more than 60,000 tons of CO2 annually into the atmosphere. The plant will be able to supply clean energy to more than 50,000 homes. This project will generate more than 200 jobs for its construction, of which 30 percent are considered highly qualified or specialized.