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MADRID COP25: THE EIB ENTERS IN THE FINANCING OF THE 250MW AWARDED TO SOLARIA IN THE SPANISH TENDER

Madrid, December 12th, 2019

 

At the Climate Change Conference (COP25) being held in Madrid, the European Investment Bank (EIB) has signed an agreement with Natixis Bank to participate in the financing of the 250 MW obtained by Solaria in the 2017 Spanish renewable tender (the construction of the associated eight PV plants has been completed during 2019).

Through this agreement, the EIB actively collaborates by supporting companies as Natixis and Solaria to achieve the goal of 42% of energy consumed in Spain coming from renewable sources by 2030, as set by the National Energy Plan.

This first agreement establishes the EIB will provide Natixis with 25M EUR of financing at a preferential cost, which will result in an improvement in Solaria’s financing cost and thus, of its generation cost.

Enrique Díaz-Tejeiro, SOLARIA President: “Working with the EIB is a great honour for Solaria. It’s not just a cost financing improvement for Solaria, but also to start a collaboration with a very relevant European player, key to meet the targets to fight against climate change”.

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