KfW mulls financing for 150MW of Spanish solar projects
Solaria Energia y Medio Ambiente has signed an agreement in principle with Dutch lender Rabobank to obtain financing for the construction of 150MW of solar projects in Spain.
The Spanish solar projects developer expects to get €75 million ($91.7 million) in project financing from Rabobank and possibly, German development bank KfW, which has yet to decide on the move.
The funds would be disbursed once the due diligence review of the projects is successfully completed and the bank's risk committee gives its green light.
Once operational sometime this year, the solar parks will be able to generate enough power to meet the annual consumption needs of over 90,000 homes and offset more than 60,000 tonnes of carbon dioxide emissions per year, Solaria estimates.
