Spain's Solaria inks project finance for 736 MW of home solar

July 1 (Renewables Now) - Spanish renewables company Solaria Energia y Medio Ambiente SA (BME:SLR) has signed an agreement with banks to secure long-term financing for a 736-MW solar PV portfolio in Spain, it announced on Thursday.

Dutch bank ABN AMRO Bank NV (AMS:ABN), German lender Commerzbank AG (ETR:CBK) and the European Investment Bank (EIB) extended project finance totalling EUR 371.9 million (USD 388.8m). No other information was disclosed.

Solaria has around 987 MW of solar power in operation, spanning southern Europe and Latin America. This year, the company expanded into the wind power business, primarily to hybridise its solar plants with wind farms wherever possible.

(EUR 1.0 = USD 1.045)