Verdian Wins EUR 55m Santander Solar Funding Deal

• Verdian secured a EUR 55m Santander financing to finish Spain’s 150MW solar buildout, speeding new renewable power for the grid and boosting its low-carbon expansion.

Verdian, an independent power producer, said it has secured a EUR 55 million (USD 62.9 million) financing facility from Banco Santander to complete construction of a solar photovoltaic portfolio in Spain. The projects total about 150 MW, with the funds aimed at finalizing multiple utility-scale developments.

The company said the long-term financing will help accelerate delivery of additional renewable electricity to Spain’s power system, as banks increasingly support clean-energy deployments amid growing demand. Spain remains a leading solar market, backed by strong solar resources and policy goals to expand renewables, and the deal strengthens Verdian’s pipeline and investment in the country’s low-carbon transition.

What does Verdian’s EUR 55 million Santander financing enable for Spain solar projects?

• Completes construction work across a ~150 MW portfolio of Spain utility-scale solar PV projects, covering remaining civil works, grid-connection milestones, and commissioning activities.
  
• Secures the capital needed to finish inverter, module, and balance-of-plant procurement so projects can reach full operational readiness rather than remain partially built.
  
• Supports grid-integration steps (including metering, interconnection facilities, and testing) that are often time- and capex-intensive during late-stage development.
  
• Enables repayment certainty and construction-to-operation transition for multiple sites, reducing schedule and financing risk that can delay revenue generation.
  
• Helps bring additional renewable electricity onto Spain’s system sooner, improving the pace at which projects contribute to generation capacity.
  
• Strengthens project bankability by providing long-term debt capital aligned with operational cash flows, supporting stable financing for ongoing development phases.
  
• Reinforces Verdian’s ability to scale its local pipeline in Spain by freeing resources and improving follow-on investment capacity after construction is completed.
• Encourages lender participation in renewables by demonstrating a structured financing approach for large-scale PV—potentially improving future access to capital for similar projects.