X-ELIO has recently closed a financing deal for three solar PV projects, Los Llanos I, II and III, located in the Spanish region of Extremadura, specifically in the municipality of Medina de las Torres, Badajoz, Spain.
Los Llanos I – II – III, with a total installed capacity of 147 MW will together generate more than 300,000 MWh of clean energy per year, an average estimated supply of renewable energy to the equivalent of 91,800 homes/year.
With these new projects, X-ELIO consolidates its commitment to Extremadura, one of its strategic and key regions in Spain, where it opened a new office in Mérida last year.
Within X-ELIO’s Community Plan Program, in parallel to the development of these projects, the company has also deployed several actions in the municipality of Medina de las Torres to support its socio-economic development under the Program’s 4 pillars of Education, Environment, Health and Communities. These initiatives involve the donation of a hundred books to create a library and support reading in a local school, the financing of a playground adapted for children with special needs in the municipality, the installation of electric vehicle charges and mobile phone recharging systems using solar technology.
Nicholas Pentreath, Chief Financial Officer of X-ELIO, stated: “The closing of this landmark financing agreement demonstrates the trust of two leading global banks in the development of X-ELIO’s high-quality portfolio of sustainable solutions. It is a major step towards achieving our objectives of renewable energy deployment and keeps demonstrating the company’s ability to raise competitive finance with world-leading financial institutions, as is Santander and BBVA”
“As part of BBVA’s commitment to sustainability, our goal is to accompany our customers and society in the process of transitioning towards environmentally friendly production and industry models. Supporting the X-ELIO project, leader in the field of renewable energies, is a step further in our commitment to the deployment of renewable energy and CO2 reduction,” indicated Elena López Nieto, Director of Corporate Banking of Central Region for BBVA’s.
Benoit Felix, Global Head of Structured Finance at Santander CIB, said, “We look forward to many more projects like this one to help us in achieving our net zero targets while reinforcing our leadership in the renewables sector. Congratulations to X-ELIO and everyone involved in the execution of this project: Santander remains fully committed to contribute to the future growth of X-ELIO´s platform on a global basis.”
Image source: Courtesy of X-ELIO
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