X-ELIO secures financing for 147 MW three solar power projects in Spain

Global renewable energy developer X-ELIO has secured financing for three solar power projects in Spain.

The company informed that it has concluded a financing deal for three solar projects including Los Llanos I, II and III. The projects are located in the Spanish region of Extremadura, in Medina de las Torres municipality, Badajoz.

According to X-ELIO, it has secured EUR 102 million for the solar projects.

The projects will have a total installed capacity of 147 MW and could generate more than 300,000 MWh of clean energy annually. “This would supply the power needs to the equivalent of 91,800 homes annually,” it said,

X-ELIO regards Extremadura as one of its strategic and key regions in Spain. The company had even opened a new office in Mérida last year.

Nicholas Pentreath, CFO, X-ELIO, was quoted in a statement, “The closing of this landmark financing agreement demonstrates the trust of two leading global banks in the development of X-ELIO’s high quality portfolio of sustainable solutions. It is a major step towards achieving our objectives of renewable energy deployment and keeps demonstrating the company’s ability to raise competitive finance with world leading financial institutions, as is Santander and BBVA.”

Besides, under the Community Plan Program, the company has also run several projects in the municipality of Medina de las Torres.

By the end of 2022, Spain was able to connect 5,663 MW of large-scale renewable energy power plants to the grid.