Spain's EiDF secures funding for 19.3 MW of C&I solar

• Spanish developer Energia Inovacion y Desarollo Fotovoltaico SA (BME: EIDF) claimed that it has actually authorized a financing contract to bankroll the building of 19.34 MW of solar self-consumption projects for the commercial and industrial (C&I) field in Spain.

The downstream solar player repeated its collaboration with renewables-focused fund Sinia Renovables, this time around protecting EUR 10.9 million (USD 11.4 m) between financing as well as equity to become aware 15 installation projects. The celebrations initially transacted in January this year to back 23.6 MW of C&I solar.

Part of the new agreement includes Sinia taking a 20.66% risk in 4 special purpose vehicles that have the projects, the EiDF group said.

EiDF will be in charge of building, commissioning, maintenance and the supply of power from the on-site solar arrays. The projects are backed by fixed-price power acquisition arrangements (PPAs) running between 10 to 15 years, EiDF included.

Sinia Renovables is an associate of BS Capital, a private equity division of Spanish lending institution Banco de Sabadell SA (BME: SAB).