Financial close of € 100M construction bridge financing Don Rodrigo PV plant in Spain

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BayWa r.e. renewable energy GmbH (a subsidiary of BayWa AG) and NORD/LB Norddeutsche Landesbank have achieved financial close of a € 100m Construction Bridge Financing for Don Rodrigo PV plant, located in the municipalities of Utrera and Alcala de Guadaira, near Seville, in Spain, one of the highest solar irradiation areas in the country.

The PV plant, with an installed capacity of 174 MWp will use Astronergy and GCL solar panels and Huawei inverters. The project will cover an area of around 265 hectares and generate around 300 GWh of solar power on a yearly basis.

The project is one of the first solar projects of this size in Europe to be realized without any subsidies. The Project has signed a 15-year PPA with Norwegian Energy Group Statkraft for the sale of their electricity.

Source: BayWa r.e.