Elgin Energy, a British solar and storage developer, has secured a GBP 60 million (USD 76 million / EUR 71 million) loan to advance its portfolio of solar and battery projects in the UK and Ireland, the company announced in a statement today.
The revolving credit facility, arranged with Banco Bilbao Vizcaya Argentaria (BBVA), comes as Elgin prepares to make financial investment decisions and commence construction on several projects in the coming months.
Elgin Energy currently holds a portfolio of projects in late-stage development exceeding 15 gigawatts across its key markets in the UK, Ireland, and Australia.
Earlier this month, the company initiated construction on three solar farms in Ireland totaling 21 megawatts, with plans to commence building 13 additional projects by 2024.
