BayWa has secured €100m financing from Norddeutsche Landesbank for the 174MW Don Rodrigo solar farm in Spain and so reached financial close on the project.
Don Rodrigo will be located in the municipalities of Utrera and Alcala de Guadaira, near Seville, and cover about 265 hectares of land. It will feature Astronergy and GCL solar panels and Huawei inverters.
The project will generate about 300 gigawatt-hours of electricity a year and supply Norwegian company Statkraft under a 15-year power purchase agreement.
BayWa Solar Projects managing director Benedikt Ortmann said: “Having Nord LB as one of our core project finance banks by our side also on financing this landmark project lets us even more confidently tackle the challenge of shaping the subsidy-free future of the European renewable energy transition.”
Nord LB head of origination Heiko Ludwig said: “We are thrilled to provide our core client BayWa renewable energy with this construction bridge financing to build this milestone project and further strengthen our existing relationship by supporting their activities in the increasingly prominent Spanish Renewable Sector.”
Image: BayWa
BayWa flush for Spanish solar
By EBS