BayernLB is financing three solar parks for one of Spain’s most experienced photovoltaic developers and solar power producers, Solaria Energía y Medio Ambiente S.A. (SOLARIA).
The plants, located in the Spanish regions of Castilla la Mancha and Castilla León,have a total capacity of 105 MWp and are scheduled to be connected to the grid in 2021. The solar power generated will be marketed via a private power purchase agreement with the leading Swiss electricity producer and energy service provider Alpiq.
“This transaction is a milestone for us on the Spanish market,” commented Christoph Fischer, who heads up Global Structured & Trade Finance at BayernLB. “Alongside our excellent position as a top lender in renewable energy in the UK, North America, France and Italy, I am delighted that we have now gained a foothold in the Spanish market and had the opportunity to demonstrate our expertise.”
The project kicks off in earnest SOLARIA’s planned expansion programme. The pipeline comprises more than 10,000 megawatts in Spain and Portugal, 3,325 megawatts of which is set to be completed by the end of 2023. The leading PV developer, which describes itself as a green power generation company, currently already operates solar parks with a capacity of more than 410 megawatts.