Enertis advises Banco Sabadell and Bankia on the €71.5 million financing for Noy Fund’s 169 MWp Olmedilla PV plant
- Enertis acted as Lender’s Technical Advisor, completing the Technical Due Diligence for the financing process and reviewing the projects in accordance with the Equator Principles and the loan in accordance with the Green Loan Principles (GLP).
- Noy Infrastructure & Energy Investment Fund and its partner Eranovum Energy are the owners of the PV plant.
- Enertis will continue to assist during the construction, commissioning and operation phases of the project.
- The total amount of the structured loan for the solar PV plant is approximately 71.5 million euros.
Enertis, a leading global consulting and engineering firm in the renewable energy and storage sectors, has acted as Lender’s Technical Advisor to Banco Sabadell and Bankia in the financing of Olmedilla solar PV plant, located in Spain, in Castilla-La Mancha region and property of one of Israel’s leading infrastructure funds, Noy Infrastructure & Energy Investment Fund (Noy Fund). The total amount of the structured loan for the project is approximately 71.5 million euros. The solar PV plant will use bifacial photovoltaic technology.
Enertis has carried out the Technical Due Diligence for the financing process, including the revision of the Engineering, Procurement and Construction (EPC) and Operation & Maintenance (O&M) agreements. Enertis also revised the project in accordance with the Equator Principles and the loan in accordance with the Green Loan Principles (GLP). Enertis will continue to advise the financial institutions in the construction, commissioning – expected to take place at the beginning of 2022 – and operation phases.
The solar PV plant, located in the Olmedilla de Alarcón and Valverdejo municipalities, in Castilla-La Mancha region, has an installed capacity of 169 MWp. The total estimated annual energy production of the project reaches 345 gigawatt hours (GWh), that will avoid the emission of 65,500 tons of CO2 equivalents per year and supply electricity to more than 105,000 homes annually.