Renovalia nails financing for Spain's first merchant PV project

The €29.7 million financing package was awarded by Banco Sabadell. Renovalia's 79.2 MW solar park will be Spain's first PV facility to sell all of its output on the spot market.Spanish financial services provider Banco Sabadell has agreed to provide €29.7 million to Renovalia Energy Group to build, commission and operate five PV plants in Puertollano, Spain. The projects do not have long-term energy sales contracts (PPA) or specific remuneration schemes. All electricity from the 79.2MWp El Bonal solar park will be sold on the spot market. "This operation is called to mark a new trend in the ...

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