Alantra and Solarig have secured financing for the construction of the first phase of 1900MW solar photovoltaic investment platform.
The companies’ joint venture Alantra Solar has made progress with €213m in debt financing for 306MW projects.
Alantra Solar has inked a financing agreement with Rabobank for the construction of the first seven solar plants. Rabobank represents ABN AMRO, BNP Paribas, Commerzbank, and Cooperatieve Rabobank as the original lenders.
In the first year, Solarig has already concluded the grid connection of the first solar plant of the 16MW vehicle. Besides, the investment vehicle N-Sun Energy has planned to gradually acquire a portfolio of 50 solar plants across Italy and Spain, being developed by Solarig.
It has been reported that the majority percentage of plants will consist of battery storage. The last plants are likely to reach ready-to-build status by the end of 2025.
“Within just one year, our progress is evident: securing the financing for the first batch of plants marks a pivotal milestone for our project, as does the successful completion of the first photovoltaic plant, actively supplying electricity,” Javier Mellado, Managing Partner of Alantra Solar, was quoted in a statement.
He further added, “This rapid pace propels our commitment to expedite the energy transition, while offering investors seeking solar energy opportunities a robust risk-return solution.”
The investment platform is likely to invest a total of €1.7 billion.