X-Elio Secures €35M for Spanish Solar Expansion

• X-Elio secures €35m from Bankinter to develop, operate and maintain three projects totaling 67 MW in Spain, furthering the company's commitment to addressing climate needs.

X-Elio has closed a financing agreement with Bankinter for €35m to fund its solar activities in Spain. This funding will be used to develop, operate and maintain three projects totaling 67MW in the municipalities of Xixona (Valencian Community) and Fuente Álamo (Region of Murcia). Two of the projects in Xixona are a combined 50MW, one of which is currently under construction and the other has already been operational since 2021. The 17MW asset in Fuente Álamo is also already in operation. CFO Nicholas Pentreath expressed X-Elio's commitment to "address climate needs in collaboration with top-tier partners like Bankinter." He added that the company will continue to pursue opportunities in the Spanish energy market to deliver high-quality projects.

What Opportunities is X-Elio Pursuing in the Spanish Energy Market?

• X-Elio is set to invest the funds in three projects with a combined total of 67 megawatts (MW) in the municipalities of Xixona and Fuente Álamo.
• Two of the projects in Xixona are a combined 50 megawatts (MW), one of which is currently under construction and the other has already been operational since 2021.
• The 17MW asset in Fuente Álamo is also already in operation.
• The renewable energy company is pursuing opportunities in the Spanish energy market to deliver high-quality projects.
• X-Elio is also exploring other renewable energy projects, such as wind and storage, in Spain.
• The company is looking to expand its presence in the Iberian Peninsula by investing in additional projects in Spain and Portugal.
• X-Elio is strengthening its position as a leader in the Spanish energy market by partnering with top-tier partners like Bankinter and leveraging its experience in the space.
• The company is committed to addressing climate needs through its innovative renewable energy solutions.