Spain: Solarpack closes EUR 94 million debt restructuring for 5 PV parks

Share

Marking an achievement in a solar market riddled with retroactive policies and bizarre taxes, Solarpack has signed a number of different agreements to restructure €94 million worth of debt relating to five solar PV parks throughout Spain.

The five parks in question are: Isla Mayor (8.4 MWp) and Lebrija (3.8 MWp), in Seville, refinanced by Santander and the ICO; Guijo de Coria (6. 2 MWp) in Caceres, refinanced by Banco Popular; and Llerena 1 (4.8 MWp) and Llerena 2 (4 MWp) in Badajoz, refinanced by CaixaBank, Banc Sabadell, Banco Popular and the Banco Portugués de Investimento (BPI).

"After the Government’s detrimental measures related with the renewable energies, the large part of the photovoltaic parks in Spain find themselves with complicated financial situations," commented company CEO, Pablo Burgos. "This long refinancing process has made possible the financial viability of the parks we have constructed and manage in Spain."

Solarpack has six solar PV projects in Spain totaling 34.6 MWp. It has also commissioned 62 MWp in Peru and 37 MWp in Chile. The company is particularly active in the latter market, and recently won 20 year contracts to supply 110 GWh via its subsidiary, Amunche Solar SpA, under the country’s second energy auction. Solarpack's bid came in at $65/MWh. To achieve this, Amunche will build a 55 MWdc PV plant, which must be completed by January 1, 2017.

Overall, the company manages a 1.3 GW pipeline in Chile, India, Uruguay, Panama and South Africa.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.