Finnish fund acquires Spanish 50MW solar farm

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The Finnish-owned Taaleri SolarWind 2 fund has acquired 100% ownership of the 50MW Niebla solar farm in Spain.

According to Renews, “the ready-to-build project is located in the municipality of San Juan del Puerto in Andalusia, approximately 70km west of Seville. Annual production of electricity will be approximately 107 gigawatt-hours.”

Construction will start in December and the plant is expected to be fully operational in the third quarter of 2022.

Niebla was developed by Valfortec, a Spanish developer, in co-operation with Taaleri Energia.

The project has a long-term financial power purchase agreement with Centrica Energy Trading to manage the majority of the electricity produced.

Renews goes on to comment that “project financing will be provided by Banco Sabadell with the loan qualifying as ‘green’ under the Loan Market Association’s Green Loan Principles.”

Taaleri Energia investment director Petri Isotalus said: “We are very pleased with this investment. Spain has significant solar resources and ambitious plans to increase the proportion of solar generated power on the Spanish grid.

“Operating out of our office in Madrid, we have been steadily building our market understanding and developer network over the past three years and we expect to continue to be an active investor in Spanish solar projects.”

Source: Renews

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