Global renewables developer X-Elio said on Thursday that it has closed a financing agreement to secure funds for its 67-MW solar portfolio in Spain.
The Madrid-based developer agreed to borrow EUR 35 million (USD 38.2m) from Spanish lender Bankinter SA (BME:BKT).
These funds will finance the development, operation and maintenance of three solar farms in south-eastern Spain. One of them is a 17-MW solar farm in operation in the region of Murcia. The other two plants, with a combined capacity of 50 MW, are located in the Valencia Community. These include one solar farm under construction, due to be completed by the end of the year, and another solar farm that has been in operation since 2021, X-Elio said.
(EUR 1.0 = USD 1.093)
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