X-ELIO Gets Financial Closing Of EUR 102mn For Spanish Solar Projects

Global renewable energy player X-ELIO has closed a financing deal for three solar power projects located in the Spanish region of Extremadura. The three solar projects are , Los Llanos I, II and III, that will specifically come up in Medina de las Torres municipality, Badajoz, Spain. X-ELIO has secured EUR 102 million for the solar projects.

X-ELIO said that Los Llanos I – II – III will have a total installed capacity of 147 MW that would together generate more than 300,000 MWh of clean energy annually. This would supply the power needs to the equivalent of 91,800 homes per year.

With these new projects, X-ELIO claims to consolidate its commitment to Extremadura, one of its strategic and key regions in Spain, where it opened a new office in Mérida last year.

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X-ELIO also has its Community Plan Program under which it’s deploying several projects in the municipality of Medina de las Torres to support the socio-economic development regarding Education, Environment, Health and Communities. This includes installation of electric vehicles charges and mobile phone recharging systems using solar technology in the region.

Nicholas Pentreath, CFO, X-ELIO, mentioned, “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”

“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,” said Elena López Nieto, Director, Corporate Banking of Central Region for BBVA’s.

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Spain had 5,663 MW of large scale renewable energy power plants connected to the grid by the end of 2022. In the total, the wind capacity accounted for 1,382 MW and the solar power capacity stood at 4,281 MW.