BayWa r.e. closes financing for 54.1-MWp solar project in Spain

• German renewables firm BayWa r.e. AG said on Tuesday that it has actually shut the financing for a 54.1-MWp solar photovoltaic or pv and also agri-voltaic (agri-PV) project it is presently building in the area of Andalusia, southerly Spain.

The financier is German business lender Norddeutsche Landesbank (NORD/LB), which supplied EUR 32.5 million (USD 34.9 m).

The project is called Alhendin and it is located close to Granada. Part of it will certainly function as a 5.1-MWp agri-PV setup, incorporating solar power manufacturing and farming on the very same land.

The Alhendin solar farm will certainly operate is under a long-lasting power purchase agreement (PPA) that BayWa r.e. authorized last year with Danish roof home windows maker Velux. It was one of two Spain-based solar PPAs in between them aimed at matching Velux team's power consumption in Europe.

The 2nd agreement is to sustain BayWa r.e.'s solar project near Seville.

BayWa r.e. expects to finalise building of Alhendin at the end of June and attach the solar farm to the grid by the end of 2023.

As soon as fully functional, the power plant will certainly can producing some 96.8 GWh of electrical energy annually, the renewables firm stated.