September 24 (Solar) – The 300-MWp Talasol solar project in Spain of Ellomay Capital Ltd (TASE:ELLO) is to be supported by the European Fund for Strategic Investments (EFSI), also known as the Juncker Plan.
The company said on Friday that the subsidy-free photovoltaic (PV) project has recently been approved for EFSI financing, but it did not reveal details. The Juncker Plan is an initiative of the European Investment Bank (EIB), the European Investment Fund and the European Commission (EC).
The solar park will be built in the municipality of Talavan, Caceres. It represents an investment of between EUR 200 million (USD 235m) and EUR 230 million. According to information on the EFSI operation scoreboard, the engineering, procurement and construction (EPC) contractor and equipment suppliers for the project have already been selected. It was previously announced that the project will be financed by a Deutsche Bank-led group.
In mid-2018, Ellomay subsidiary Talasol Solar SL executed a financial power swap in respect of roughly 80% of the output of the solar park. The 10-year contract has been agreed with an international energy company, whose name was not disclosed.
(EUR 1 = USD 1.177)