Renewables developer Forestalia has secured €65m in finance from the IKAV fund to develop 19 Aragon wind and solar farms with a combined capacity of 767MW.
There will be twelve new Spanish wind farms and seven photovoltaic farms owned by Forestalia, which will be added to those already in progress within its direct operation portfolio, with a power that in the coming years will exceed 1.2GW.
Banco Sabadell has coordinated and structured the financing of this operation, as an example of its ability to offer comprehensive solutions in renewable energy projects.
Watson, Farley & Williams (WFW) was the legal advisor, while ATA has been the technical advisor to the financier for photovoltaic projects and DNV for wind projects.
Headquartered in Hamburg with offices in seven countries, IKAV is an asset management group that offers investors solutions across a wide range of energy infrastructure assets.
This new boost to Forestalia’s own portfolio is added to other projects under direct management, such as the “El Coto” and “El Campillo” wind farms, in the municipality of Zaragoza, and “Las Majas VI A”, in the region of Campo de Belchite, or “El Aliagar”, in San Mateo de Gállego.
Forestalia has already developed 2GW of wind, photovoltaic and electricity generation using biomass, all of them built and in operation.
In addition, Forestalia has a portfolio of projects in the pipeline that totals more than 6GW.