First Solar sells 10MW plant in Spain

The plant is currently under construction, being developed by Gehrlicher Solar EspaƱa with an expected completion in December. The plant occupies 37.6 hectares of land and will produce an estimated 15,000 megawatt hours (MWh) of solar power. Around 3,400 Spanish homes can be powered annually with the energy produced according to First Solar.The plant is located about 250 kilometers northwest of Madrid in one of the sunniest areas in Europe, with around 1,700 kWh/m2 of sunlight a year.

First Solar was involved in organizing the third-party financing as well as the supply of approximately 122,000 FS Series 3 thin-film solar modules. The long-term financing for the Zamora project was structured by HSH Nordbank AG.

"We are very glad about the successful acquisition of this exceptional solar farm in Spain and the opportunity to collaborate with highly professional partners like First Solar and Gehrlicher," said Klaus Wolf, managing director of KGAL. "The total capacity of solar farms owned and operated by KGAL’s investment funds now exceeds 200 MW."