Grupotec ensures its financing for a photovoltaic park of 41,6MW in Tabernas (Almería)
Of the 30 rewarded companies at the renewables auction in July 2017, Grupotec has probably been the first company in ensuring its financing to construct a photovoltaic park in Spain.
The project, which will sell its energy to the net at market prices (what is known in the sector as a ‘merchant’ project) will be financed by Sabadell Bank in the modality project finance. For the exploitation of this project, Grupotec has discarded the possibility of selling the generated energy through long term contracts (PPA). On the contrary, it has chosen to sell its energy in the market through its participant company, the marketer Foener.
The construction of the park will begin in November 2018 and will be connected and generating energy before the 30th June of 2019.
This is the first investment of its kind for Grupotec in its strategic framework in Spain in which it has fixed the objective of attaining 500MW in propriety before 2022