X-Elio has closed a financing agreement with Bankinter for €35m to fund its solar activities in Spain.
The funds will be invested in the development, operation and maintenance of three solar projects in Spain with a total capacity of 67MW.
Specifically, the funds will be allocated to two projects of the company in the municipality of Xixona in the Valencian Community.
These projects total 50MW.
One is under construction, expected to be completed by the end of year, and the other has been in operation since 2021.
The third 17MW asset is in operation in the municipality of Fuente Álamo in the Region of Murcia.
Nicholas Pentreath, Chief Financial Officer of X-Elio, said: “At X-Elio our mission is clear.
“We continue to deliver high quality projects in a market that has always demonstrated to be an advanced and key strategic location for the development of clean energy as is Spain.
“We will keep seizing the opportunities the market offers to address climate needs in collaboration with top-tier partners like Bankinter.”