German KfW finances 200 MW photovoltaic project in Spain

• German federal possessed KfW IPEX-Bank is participating in the building and also operation of the "Los Escuderos" solar park near the municipality of Altarejos in the Spanish province of Cuenca with a loan of around EUR64 million ($78 million).

The complete investment will be financed by a long-term finance of greater than EUR96 million, the regard to which covers the building stage and also 17 years of procedure. KfW is the syndicate leader of numerous loan providers.

The project is being executed by its proprietor, the Spanish wind and solar company Grenergy Renovables S.A. The project will certainly develop one of the largest solar parks in Spain with a set up capacity of 200 MW. Along with the construction, the company will certainly likewise be responsible for the subsequent procedure of the four photovoltaic or pv plants, including the connected grid link framework.

The plants are set up to be appointed in the course of 2021. The project involves the installment of over 342,000 solar modules with an expected yearly power production of around 385 GWh. The proceeds will certainly most likely to the Portuguese energy business Galp under twelve-year power supply agreements (PPA). When the agreements end, the power created is to be sold on the area market.