Financial close of Spanish solar park Don Rodrigo

BayWa r.e. renewable energy GmbH and NORD/LB Norddeutsche Landesbank have achieved financial close of a EUR 100m Construction Bridge Financing for Don Rodrigo photovoltaic solar park, located in the municipalities of Utrera and Alcala de Guadaira, near Seville, in Spain, one of the highest solar irradiation areas in the country.

The solar park, with an installed capacity of 174 MWp will use Astronergy and GCL solar panels and Huawei inverters. The project will cover an area of around 265 hectares (approx. 190 football fields) and generate around 300 GWh of solar power on a yearly basis.
The project is one of the first solar projects of this size in Europe to be realized without any subsidies. The Project has signed a 15-year PPA with Norwegian Energy Group Statkraft for the sale of their electricity.

Benedikt Ortmann, Managing Director of BayWa r.e. Solar Projects GmbH: “Having NORD/LB as one of our core Project Finance banks by our side also on financing this landmark project lets us even more confidently tackle the challenge of shaping the subsidy-free future of the European renewable energy transition. ”.

Heiko Ludwig, Head of NORD/LB Origination: “We are thrilled to provide our core client BayWa r.e. renewable energy GmbH with this Construction Bridge Financing to build this milestone project and further strengthen our existing relationship by supporting their activities in the increasingly prominent Spanish Renewable Sector”.