EIB weighs EUR-90m loan for Ignis' solar project in Spain

Spanish vertically integrated renewables company Ignis is seeking a EUR-90-million (USD 99.4m) loan from the European Investment Bank (EIB) to finance the construction and operation of six solar farms in Spain.

The six plants would represent a combined capacity of around 297 MWp and are a part of Project Soho, according to information posted on the EIB’s website.

The total cost of Project Soho is estimated at approximately EUR 193 million.

The loan application is currently under appraisal. The EU bank said that the project would create ground-mounted solar farms, with some of them located in EIB cohesion priority regions. The term encompasses less developed regions, where a GDP per capita is less than 75% of the EU average, and transition regions, which have a GDP per capita between 75% and 100% of the EU average.