January 18 (Renewables Now) – Spanish fund administration agency Everwood Capital has secured financing for the 50-MW Cartuja photo voltaic challenge that’s at the moment being in-built Spain, in keeping with the corporate’s authorized advisor within the deal.
The agency was granted EUR 25 million (USD 30.2m) of challenge finance cash by Spanish lender Liberbank SA (BME:LBK) to fund what can be its second service provider plant, regulation agency Watson Farley & Williams (WFW) mentioned. The financing was closed on December 31, 2020.
The challenge is positioned in Cadiz province, the southernmost a part of mainland Spain. It was developed by Madrid-based impartial energy producer (IPP) Abei Vitality, which retains a minority stake within the PSFV Cartuja challenge firm, native newspaper Diario de Cadiz has reported, citing an announcement from Everwood.
Abei Vitality organized a long-term energy buy settlement (PPA) for the Cartuja plant’s manufacturing with power dealer Axpo Iberia SL, in keeping with a publish on the IPP’s web site dated October 16, 2020.
The photo voltaic farm will begin operation in 2021.
Between 2015 and 2019, Everwood managed three funds aimed on the acquisition of regulated photo voltaic photovoltaic (PV) belongings. Its fund IV is concentrated on investing in no-subsidy photo voltaic in Spain, Portugal and Italy, with the objective of racking up some 1,000 MW, Everwood says.
The agency is now searching for to boost EUR 500 million for its fifth fund.
(EUR 1.0 = USD 1.206)