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Soltec and Triodos Bank close a financing of 3.6 million for the Totana photovoltaic plant

Soltec and Triodos Bank have closed a new financing agreement of 3.6 million euros for the construction and operation of a photovoltaic installation located in Totana (Murcia), a unique and pioneering agreement in Spain that links senior debt articulated through the project finance modality, together with investment from local communities, in the same project through the Fundeen crowdfunding platform. The facility will sell the energy generated directly to the electricity market, except for the 12 years that it is under the auction economic regime where it will receive a fixed price of 54 euros per megawatt hour (€/MWh).

The construction process of the 5.6 megawatt (MW) solar photovoltaic plant will have an annual production of 11,358 MW and will be designed under the ecovoltaic concept, meeting the necessary standards to be considered a sustainable photovoltaic plant, with a commitment towards environmental preservation and local return, including the use of bifacial modules that maximize the absorption of sunlight and ultimately improve energy performance.

Miguel Ángel Amores, manager of Renewable Energy and Environmental Technologies at Triodos Bank Spain: "the signing of this operation is another step in our commitment to offering innovative, flexible and inclusive financial solutions to all citizens through the crowdfunding modality. Support this type of operations reinforces our mission of transition towards a model with more accessible, participatory and clean energy for all people, making use of tools such as auctions organized by the Ministry of Ecological Transition."

Raúl Morales, CEO of Soltec: "this collaboration is a great opportunity to continue working and promoting the strength of our business model that was born with the purpose of creating a clean, sustainable and fair world based on efficient production of photovoltaic energy. In addition "It is essential for us to give neighbors and citizens the opportunity to be part of our projects, with the crowdfunding platform being an effective and accessible formula for everyone."


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