Chinese solar panel manufacturer JinkoSolar has announced it will supply its Cheetah modules for the Talasol PV project owned by Israeli company Ellomay.
The modules will be installed by the Greek engineering, procurement and construction (EPC) services contractor Metka. The financial terms of the supply contract were not disclosed.
“The Talasol project will create a benchmark in Europe in terms of competitively-priced and subsidy-free solar power,” said Frank Niendorf, general manager of JinkoSolar Europe. “It is also one of the largest utility scale projects ever built in Europe and JinkoSolar is very proud to be a part of such a milestone.”
Work on the plant, which will sell power to the spot market, began in mid-June and completion is scheduled for the end of next year. Some €240-€260 million is reportedly being invested in the project.
Ellomay Capital announced at the end of last year its subsidiary Talasol Solar had obtained €177 million for construction and in March said it had obtained €18.4 million from Spanish lender Bankinter for the project. pv magazine previously reported Ellomay had entered an agreement with Germany’s Deutsche Bank for the structuring of non-recourse senior debt financing for the facility, with a possibility the European Investment Bank would also offer support.
Ellomay bought the Talasol project through a €10 million share-purchase agreement in May 2017. Two months later the developer obtained approval for the project from Spain’s Ministry of Energy, Tourism and the Digital Agenda. Ellomay has previously said – depending on the EPC agreement – capital expenditure including development costs and interest was expected to be around €225-255 million.