Eurowind Energy bags EUR 48m for new solar projects in Portugal

May 19, 2023 11:44 AM ET
  • Danish renewables developer Eurowind Energy A/S has received EUR 48 million (USD 52m) in debt from Denmark's AP Pension to back the construction of solar park projects in Portugal.
Eurowind Energy bags EUR 48m for new solar projects in Portugal

The loan agreement was signed last week and also was the Danish pension group's involvement in a direct loaning purchase for green energy projects for the very first time.

The debt financing will help with the setup of 6 photovoltaic or pv (PV) farms throughout Portugal within the coming year. Initial actions in the direction of the construction phase have already been taken, according to the statement.

The centers' future output will certainly contribute to the generation from Eurowind Energy's 22-MWp Triana PV park in the Lisbon area of main Portugal, which was brought stay in January. Together, the seven plants will certainly produce some 142,000 MWh of electricity each year which will suffice to cover the annual power consumption of around 35,000 homes.

AP Pension noted it anticipates the financing agreement to supply a secure go back to its financiers. The contract is additionally straightened with its objective to have 18% of its overall assets invested in green projects in 2025, with the share intended to get to 25% in 2030.

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