Clean energy investo Sunco Capital has begun construction of two photovoltaic plants in Ciudad Real in Spain totalling 83MW.
Construction of the projects, both located in the municipality of Manzanares, will be complete in 2021.
The power generated from them will be sold through a long-term power purchase agreement with Shell Energy Europe.
Sunco Capital has secured the financing for the design, construction, commissioning and operation of the plants with Banco Santander.
Sunco Capital chief executive Tony Artiga said: “The commitment of companies like Shell and Santander facilitates the investment in renewable energy projects, which are essential for the transformation of the current energy model.
“We are delighted to unveil this investment commitment and agreements, which are the first step in our contribution to the decarbonization of the electric industry.”
Sunco Capital controls a portfolio of solar projects of more than 2GW in Europe and Latin America.