November 16 (Solar) – Spanish solar developer Fotowatio Renewable Ventures (FRV) announced on Thursday it has achieved financial closure for a 50-MW DC solar project in Spain.
The company signed the financing agreement with local lender Banco Sabadell for an undisclosed amount. The La Solanilla Solar Farm, as the photovoltaic (PV) plant is named, will be built in Trujillo municipality, in the Spanish province of Caceres.
Expected to break ground before the end of the year, La Solanilla is estimate to generate around 103 GWh of clean energy per year, enough to meet the annual demand of 25,000 Spanish homes and reduce the emission of roughly 1 kg of carbon dioxide (CO2) per hour, FRV stated in its press release.
Spanish company Cobra will be in charge of building works under an engineering, procurement and construction (EPC) contract. The construction phase is expected to create 300 local jobs and commissioning is planned for late 2019.