X-ELIO, a leading renewable energy company, has announced the closure of a landmark financing deal for three solar PV projects in the Spanish region of Extremadura. The projects, known as Los Llanos 1, 2, and 3, are located in the municipality of Medina de las Torres, Badajoz, and have a total capacity of 147MW.
Once operational, the projects will generate more than 300,000MWh of clean energy per year, enough to power 91,800 homes annually. This will make a significant contribution to reducing carbon emissions and promoting sustainable development in the region.
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X-ELIO's investment in Extremadura reflects the company's commitment to the region, which it has identified as a strategic and key location for renewable energy development in Spain. The company opened a new office in Mérida last year, further strengthening its presence in the region.
Commenting on the financing deal, X-ELIO's Chief Financial Officer, Nicholas Pentreath, said: “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.”
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The financing deal was led by Santander and BBVA, two of the world's largest banks. Their involvement is a testament to the quality of X-ELIO's portfolio and its proven track record in developing sustainable solutions.
X-ELIO's investment in Extremadura represents a significant milestone in the development of renewable energy in Spain. The company's commitment to sustainability and its ability to attract financing from leading financial institutions position it as a key player in the transition to a low-carbon economy.
