UK-based solar power company Lightsource bp has secured EUR 175 million (USD 189.4 million) in bank financing to support its latest solar projects in Spain, as confirmed by its legal advisor on Tuesday.
The financing was provided by a consortium of lenders, including BBVA, BNP Paribas, Credit Agricole CIB, and ING, as reported by the law firm Cuatrecasas.
The funds will be utilized to finance the construction and commissioning of a 248-MWp cluster of five solar farms, collectively known as the Guillena project. These solar farms will be situated in the towns of Guillena, Burguillos, and Alcalá del Río in Seville province, located in southern Spain.
Cox, a Seville-based energy and water utility, has secured a contract to deliver engineering and procurement services for the solar farms, which include Gerena 1, 2, and 3, along with Guillena 1 and 2, and their associated electricity transmission infrastructure. This contract was announced last week.
The Guillena project is expected to create up to 350 jobs and generate EUR 8 million in local taxes throughout its construction and operational phases. Construction is scheduled to commence this month, according to the law firm.
