Solaria signed financing agreement for 175 MW Solar Project in Spain

Solaria has reached an agreement in principle with Banco Sabadell for the long-term financing of the 175 MW Oliva Solar project, which will be developed in the province of Guadalajara, Spain.

The agreement is subject to the successful completion of the due diligence of the projects and the final approval of the bank’s risk committee. The financing will be in the form of syndicated project finance for an amount of up to EUR 93.5 million (US$106.4 million).

The financing obtained through this transaction will enable the Solar project to be promoted. This initiative is closely linked to the construction of a data center that will operate under an energy self-consumption model, with an assured capacity of 70 MW, which reinforces Solaria’s commitment to sustainable and innovative solutions in the field of digitalization and energy transition.

The energy fed into the grid from the 175 MW photovoltaic plants will be 100% renewable and will be able to supply 84,000 Spanish households per year.