Renewables company Ellomay Capital has been forced to reduce the scale of its planned 340 MW Manara Cliff project, in the north of the country, because two rival schemes have already gobbled up a large proportion of the capacity quota currently offered by the government.
After securing a financial hedge for its Talasol solar plant in January, Israeli solar company Ellomay has now entered agreement with Deutsche Bank for the structuring of non-recourse senior debt financing for the project.
The Talasol project, which the Israeli solar company acquired in May, plans to sell power to the Spanish spot market starting from 2020. The financial hedge will cover the supply of between 3,500 GWh and 3,700 GWh for a 10-year period.
The Talasol Solar PV power plant will be located in Talaván, Cáceres, in the southern region of Extremadura. Israeli solar company Ellomay acquired the project in May.
The Israeli investment firm agreed to acquire a special purpose vehicle owning a 300 MW PV project in the southern Spanish region of Extremadura.
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