Grenergy obtains a 90 million green loan to finance the Belinchón solar farm (Cuenca).
CE Noticias Financieras
MADRID, 8 (EUROPA PRESS) Specifically, the company has reached an agreement with the banks Norddeutsche Landesbank Girozentrale (NORD/LB) and Bankinter, which also includes other complementary credit lines for the construction and development of the wind farm. Each of the two banks will assume half of the senior debt of approximately EUR 44.7 million. The financing method includes debt financing for the construction term plus 19 years. "This agreement ratifies the confidence of national and international banks in renewable energy, and reaffirms our leadership in green finance," said Grenergy CEO David Ruiz de Andrés. The Belinchón solar farm, with 150 megawatts (MW), is the second largest project to be built by Grenergy, which aims to make Spain its main market in Europe, where it currently has a portfolio of projects of more than 2 gigawatts (GW) in different stages of development. Located in the Cuenca municipality of Barajas de Melo, the park is already in the construction phase, will have around 230,000 photovoltaic panels and will occupy an area of more than 300 hectares. When it comes into operation, it will provide clean energy to 31,000 homes and will prevent the emission of around 115,010 tons of CO2 per year. The company has already signed an agreement for the long-term sale of energy produced at the park with an Iberian utility company for a period of 12 years, which will be activated in January 2025. Until then, the electricity generated will be sold at market price.