NORD/LB Finances €110 Million for Solar Projects in Spain

News Summary

NORD/LB has committed €110 million to fund three solar PV farms in Aragón, Spain. These projects utilize over 250,000 solar panels and aim to supply clean electricity to around 30,000 households, supporting Spain’s renewable energy goals and reducing carbon emissions.

NORD/LB Finances €110 Million for Solar PV Farms in Spain

NORD/LB has successfully financed approximately €110 million earmarked for the development of three solar photovoltaic (PV) farms located in the Aragón region of Spain. This financing is an essential step in supporting the ongoing transition towards renewable energy, aligning with Spain’s ambitious energy goals.

Details of the Solar Projects

The three solar farms currently under construction by Capital Dynamics will feature over 250,000 ground-mounted solar panels. Collectively, these facilities are projected to produce enough clean electricity to power nearly 30,000 households across the region, significantly contributing to the local energy mix.

The breakdown of each solar farm is as follows:

• A 54.89 MW plant equipped with 88,500 panels, which will serve around 10,651 homes.
• A 54.78 MW plant featuring 87,600 panels for approximately 10,534 households.
• A 50 MW plant with 80,600 panels supplying energy to about 8,794 homes.

Alignment with National Energy Plans

The development of these solar farms supports Spain’s National Integrated Energy and Climate Plan (PNIEC), which was released in September 2024. The PNIEC aims to reach 76 GW of installed solar capacity by the year 2030, reflecting the country’s commitment to expanding its renewable energy infrastructure.

Commitment to Renewable Energy

The financing provided by NORD/LB is part of a broader initiative to promote sustainable energy investments across Europe. The projects are designed to help reduce carbon emissions and advance Spain’s objectives of achieving net-zero targets by 2050.

Dario Bertagna, Senior Managing Director and Co-Head of Clean Energy at Capital Dynamics, has highlighted the importance of this partnership with NORD/LB. The focus remains on accelerating the transition toward clean energy while delivering long-term sustainable value to both investors and local communities.

Heiko Ludwig, the Global Head of Structured Finance at NORD/LB, has reaffirmed the bank’s dedication to financing renewable energy projects both in Spain and across Europe. The bank views this project as a crucial component of Spain’s strategy to meet its long-term clean energy objectives.

Legal and Advisory Support

The legal framework for this financing was established by Gomez-Acebo & Pombo Abogados, S.L.P. on behalf of NORD/LB, while Capital Dynamics received guidance from Watson Farley & Williams Spain, S.L. This collaboration underscores the growing momentum behind initiatives aimed at sustainable energy practices.

Impact on the Local Community

The completed solar farms are expected to have a positive impact not only by providing clean energy but also by fostering job creation and supporting local economies. As Spain continues to invest in renewable energy technologies, projects like these play a vital role in promoting sustainability and environmental responsibility.

Conclusion

The financing of the three solar PV farms represents a significant achievement in Spain’s renewable energy landscape. With substantial investments and the commitment to meet strategic energy goals, Spain is positioned to lead in the global shift towards sustainable and clean energy solutions. This initiative not only enhances energy independence but also contributes profoundly to environmental sustainability, setting an example for other countries aiming to tackle climate change issues.

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Additional Resources

• SolarQuarter: NORD/LB Finances €110 Million for Solar Projects in Spain
• Renewables Now: Ignis Inks Loan with EIB for Spanish Solar
• Economic Times: Spain’s Zelestra Secures €280 Million Financing
• Renewable Energy Magazine: Matrix Renewables Secures €124 million Financing
• Wikipedia: Solar Energy