X-ELIO commits to Andalusia with the closing of a financing of 27 million euros and the construction of a 50 MW solar PV plant in Almeria – EQ Mag Pro

For this project, a financing of 27 million euros has been arranged with Banco Sabadell.

More than 100 workers will be employed during construction.

The mayors of Lucainena de las Torres and Tabernas, Juan Herrera Segura and José Díaz Ibáñez, took part today in the official celebration to mark the start of construction of the 50 MW photovoltaic plant called ‘CSF Tabernas’, which will produce 104 GWh of 100% clean and sustainable energy, which will supply the equivalent consumption of 10,000 homes/year.

For the development and construction of this plant, a financing agreement has been signed with Banco Sabadell for an amount of 27 million euros, which represents around 70% of the plant’s total investment. This alliance demonstrates the support of the two institutions for the energy transformation and the commitment with sustainability in Andalusia.

The total investment for the CSF Tabernas solar PV plant will be of 38 million euros and will prevent the emission of more than 20,000 tonnes of CO2 into the atmosphere. More than a hundred workers will be employed in the site preparation, panel assembly and commissioning of works.

In line with X-ELIO’s sustainable social commitment, the projects always include a series of initiatives to support the local community; specifically, these actions are focused on providing resources related to education, health and the environment. In the upcoming months, social and community actions will be promoted in the municipalities of Lucainena de las Torres, Tabernas and Sorbas.

Fernando Lacaci, Chief Operational Officer of X-ELIO, thanked “the regional and local authorities for their involvement in speeding up the numerous administrative procedures necessary for the plant’s start-up“, while he also valued very positively “the public-private collaboration of companies and administrations to move forward with projects that generate wealth and employment in Andalusia”.

For X-ELIO’s Country Manager in Spain, Arancha Martínez, “the company stands in a unique position to create value in a world that requires clean energy sources to avoid serious damage to our environment. It is urgent to reduce emissions from fossil fuels, therefore caring for the planet is one of our fundamental values as a company”.

According to Roger Font, Director of Project Finance and Specialized Businesses at Banco Sabadell: “At Banco Sabadell we are firmly committed to contributing to sustainable development and the fight against climate change, with the aim of creating a better world and a better future for everyone. We join the Paris Agreement, the European Green Pact and the Net Zero Banking Alliance, channeling resources and responding to citizens and all those companies that want to reduce their environmental impact and work for a more cohesive society. This operation is an opportunity to continue with our objective of financing renewable energy projects and we thank X-ELIO for the trust it has placed in Banco Sabadell”.

In addition, the mayors of Lucainena de las Torres and Tabernas emphasised during their speeches the importance of new investments in the province, especially from companies such as X-ELIO, which are committed to clean and renewable energies, which also create employment for local residents.

About X-ELIO:

X-ELIO is specialized in the development, construction, financing and operation of sustainable energy projects with a global presence in Europe, the United States, Latin America, Japan and Australia. The firm has 17 years of experience with more than 2.6 GW built. The group is a world leader in the development of renewable and sustainable energy, with a strong commitment to greenhouse gas reduction and the fight against climate change.