X-ELIO achieves financial closing of €102 million for three solar PV projects
Published by Abi Larkin,
Editorial Assistant
Energy Global,
X-ELIO has recently closed a financing deal for three solar photovoltaic (PV) projects, Los Llanos I, II, and III, located in the Spanish region of Extremadura, specifically in the municipality of Medina de las Torres, Badajoz, Spain.
Los Llanos I, II, and II, with a total installed capacity of 147 MW will together generate more than 300 000 MWh/y of clean energy, an average estimated supply of renewable energy to the equivalent of 91 800 homes per year.
With these new projects, X-ELIO consolidates its commitment to Extremadura, one of its strategic and key regions in Spain, where it opened a new office in Mérida last year.
Nicholas Pentreath, Chief Financial Officer of X-ELIO, stated: “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 development and keeps demonstrating the company’s ability to raise competitive finance with world leading financial institutions, as is Santander and BBVA.”
“As part of BBVA’s commitment to sustainability, our goal is to accompany our customers and society in the process of transitioning towards environmental friendly production and industry models. Supporting the X-ELIO project, leader in the field of renewable energies, is a step further in our commitment to the deployment of renewable energy and CO2 reduction,” indicated Elena López Nieto, Director of Corporate Banking of Central Region for BBVA’s.
Benoit Felix, Global Head of Structured Finance at Santander CIB, said: “We look forward to many more projects like this one to help us in achieving our net zero targets, while reinforcing our leadership in the renewables sector. Congratulations to X-ELIO and everyone involved in the execution of this project: Santander remains fully committed to contribute to the further growth of X-ELIO’s platform on a global basis.”
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Energy Global's Spring 2023 issue
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Read the article online at: https://www.energyglobal.com/solar/21042023/x-elio-achieves-financial-closing-of-102-million-for-three-solar-pv-projects/
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