Cero Generation Secures Financing for 244.7MWp Solar Portfolio in Spain—Construction to Begin Soon!
Cero Generation is charging ahead with the green energy revolution, having just reached financial close on an impressive portfolio of five solar projects in the Palencia region of Spain. This milestone secures the future of a 244.7MWp solar portfolio, thanks to the backing of a consortium of major lenders—Banco Sabadell, Rabobank, and ING.
These five utility-scale solar projects, set to power thousands of homes and reduce carbon emissions, are underpinned by a 10-year Power Purchase Agreement (PPA) with a leading international technology company. With financing in place, Cero Generation is poised to break ground on these projects imminently, marking the start of an exciting new chapter in Spain’s renewable energy landscape.
Cero Generation has enlisted the expertise of Elmya and Metlen as EPC contractors, ensuring the projects are built to the highest standards. LONGi, a global leader in solar technology, will supply the solar modules, further cementing the portfolio’s role in advancing clean energy. With over 200 people set to be involved in the construction phase, this initiative will not only boost local employment but also invigorate the local economy.
Beyond the immediate economic benefits, Cero Generation is committed to the long-term sustainability of the region. As part of the project development programme, Cero will actively support conservation programmes in the Castilla y León autonomous community. These initiatives will help protect local biodiversity and ensure that the solar projects contribute positively to the environment.
The impact of these projects is monumental—once operational, the five solar plants are expected to deliver more than 480 GWh of renewable energy annually. That’s enough to power close to 150,000 homes and avoid over 175,000 tonnes of CO2e emissions each year. But the benefits don’t stop there; Cero is also focused on enhancing biodiversity at the project sites, creating a win-win scenario for both clean energy and the environment.
With a 26GW portfolio, Cero Generation is one of Europe’s renewable energy powerhouses. Over 600MW of their projects are already in operation or under construction, showcasing their commitment to driving the energy transition forward.
Marta Martinez Queimadelos, Chief Executive of Cero Generation, expressed her enthusiasm: “We are delighted to reach financial close on this portfolio, which was achieved through close collaboration with all of the key stakeholders including our lending partners—Sabadell, Rabobank, and ING—and our supply chain partners, Elmya, Metlen, and LONGi. We look forward to constructing these plants, creating job opportunities for local people, and delivering a range of community benefits, ultimately putting more renewable energy into the Spanish transmission network.”
This is more than just a financial achievement; it’s a significant step towards a sustainable future for Spain and Europe. Stay tuned as Cero Generation continues to lead the way in renewable energy innovation and community-focused development!
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