PVTIME – The Taaleri SolarWind II fund has acquired 100% ownership of the Niebla solar plant, which is located in the Municipality of San Juan del Puerto in Andalusia, approximately 70 km west of Seville.
The solar PV plant will have an installed capacity of 50 MWp and the annual production of electricity will be approximately 107 GWh. The solar PV plant will produce enough electricity to supply around 28,000 households and will offset the equivalent of 36,500 tonnes of carbon dioxide during each year of operation. Construction works will start in December 2021 and the plant is expected to be fully operational in the third quarter of 2022.
The Niebla solar plant was developed by Valfortec, a Spanish developer, in co-operation with Taaleri Energia. The project has a long-term financial power purchase agreement with Centrica Energy Trading to manage the majority of the electricity produced. Project financing will be provided by Banco Sabadell with the loan qualifying as a green loan under the Loan Market Association’s Green Loan Principles.
“We are very pleased with this investment. Spain has significant solar resources and ambitious plans to increase the proportion of solar generated power on the Spanish grid. Operating out of our office in Madrid, we have been steadily building our market understanding and developer network over the past three years and we expect to continue to be an active investor in Spanish solar projects”, said Taaleri Energia’s Investment Director, Petri Isotalus.
“We are very excited to have been able to collaborate with Taaleri Energia. Banco Sabadell has extensive experience in financing renewable projects in the Iberian market, which we hope to continue to share with Taaleri Energia in the future. Climate change is one of the greatest risks we face nowadays and projects such as these are crucial in order to transition towards a more sustainable economy”, said Banco Sabadell’s Project Finance Director, Roberto García Coria.
