Greening has closed a financing agreement with Qualitas Energy for the construction and operation of a 90MW portfolio of solar projects in Spain.
The projects are under construction or already connected.
The agreement is worth €35m.
Articulated through Greening Investments Desarrollos Espana (GIDE), the capital drawdowns will be made in tranches over three years, linked to the fulfilment of construction milestones (EPC) certified by a technical agent in each of the projects.
Ignacio Salcedo, CEO of Greening, said: “This financing agreement with Qualitas Energy represents a new impetus to continue consolidating our growth and our commitment to the energy transition in Spain.
“The trust placed by Qualitas Energy in Greening highlights the strength of our projects and our ability to execute.
“With this transaction, we are making progress in the development of this portfolio that will not only contribute to the development of a more sustainable energy model, but will also strategically strengthen our market position and business growth.”