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Amarenco Secures Finance from Berenberg for 50-MWp Solar Park in Spain

Amarenco Secures Finance from Berenberg for 50-MWp Solar Park in Spain

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Irish solar independent power producer (IPP) Amarenco Group has entered into a deal with the Berenberg Bank to finance the acquisition of a 50-MWp solar farm in Spain.

Through the Berenberg Green Energy Junior Debt Fund II, Amarenco is receiving a five-year junior debt facility that covers both the construction and operational phases of the Las Naranjillas photovoltaic (PV) plant.

The company has acquired said project from South Korea’s Hanwha Energy Corp.

Covering a 137-hectare (338.5 acres) area in Seville province, the solar park consists of 121,800 PV modules, capable of generating enough clean electricity to meet the annual demand of 14,000 homes and offset 51,977 tonnes of carbon dioxide (CO2) emissions per year.

Source: renewablesnow
Anand Gupta Editor - EQ Int'l Media Network