X-ELIO has signed a €27m financing agreement with Banco Sabadell for the 50MW CSF Tabernas solar farm in Spain.
The deal, which represents around 70% of the plant’s total investment, also marks the start of construction of the PV plant located in Almeria.
It will produce 104 gigawatt-hours energy and will supply the equivalent consumption of 10,000 homes a year.
The mayors of Lucainena de las Torres and Tabernas, Juan Herrera Segura and José Díaz Ibáñez took part in the official celebration of the start of construction at the site that was held yesterday.
The total investment for the CSF Tabernas solar PV plant will be of 38 million euros and will prevent the emission of more than 20,000 tonnes of carbon dioxide into the atmosphere.
More than a hundred workers will be employed in the site preparation, panel assembly and commissioning of works, it added.
X-ELIO said that in line with its sustainable social commitment, the projects always include a series of initiatives to support the local community; specifically, these actions are focused on providing resources related to education, health and the environment.
It added that in the upcoming months, social and community actions will be promoted in the municipalities of Lucainena de las Torres, Tabernas and Sorbas.
X-ELIO Spain country manager Arancha Martínez said: “The company stands in a unique position to create value in a world that requires clean energy sources to avoid serious damage to our environment.
“It is urgent to reduce emissions from fossil fuels, therefore caring for the planet is one of our fundamental values as a company.”
Banco Sabadell director of project finance and specialized businesses Roger Font said: “At Banco Sabadell we are firmly committed to contributing to sustainable development and the fight against climate change, with the aim of creating a better world and a better future for everyone.
“We join the Paris Agreement, the European Green Pact and the Net Zero Banking Alliance, channeling resources and responding to citizens and all those companies that want to reduce their environmental impact and work for a more cohesive society.
“This operation is an opportunity to continue with our objective of financing renewable energy projects and we thank X-ELIO for the trust it has placed in Banco Sabadell”.