February 28, 2022
Solaria has today reached an initial in-principle and non-binding agreement with ABN AMRO, Commerzbank and the European Investment Bank (EIB) for the long-term financing of 736MW of solar PV plants in Spain.
The agreement is subject to the successful completion of due diligence of the projects and the approval of the banks’ decision-making bodies.
The financing is articulated under the Project Finance modality for an amount of 375 million euros. This is the largest financing agreement in the history of Solaria.
In the words of Solaria’s Chairman, Mr. Enrique Díaz-Tejeiro: “We are proud to be able to announce this agreement, which demonstrates the renewed confidence of the European Investment Bank (EIB) in Solaria, as well as that of new and very important partners such as ABN AMRO and Commerzbank. This financing will contribute to the achievement of our objectives and, therefore, to ensuring the energy transition, which is key for society”.
The energy fed into the grid by the 736 MW photovoltaic plants will be 100% renewable and will avoid the emission of 340,000 tons of CO2 into the atmosphere annually. The generation of these photovoltaic plants could supply 416,000 Spanish homes per year.