close
close

Cero secures financing for five solar projects in Spain

Posted on by darion

The five solar projects are expected to produce more than 480 GWh of renewable energy annually. Source: bombermoon / Shutterstock.

Cero Generation has achieved financial close on its portfolio of solar projects in Spain, marking a significant step forward for the renewable energy sector in the region.

The five projects, located in the Palencia region, have a combined installed peak capacity of 244.7 megawatts (MWp) and are scheduled to begin construction.

The necessary financing was provided by a consortium of external lenders: Banco Sabadell, Rabobank and ING.

The projects will be supported by a ten-year power purchase agreement (PPA) with an undisclosed international technology company.

Elmya and Metlen have been appointed as engineering, procurement and construction (EPC) contractors, while LONGi has been selected to supply the solar modules.

The construction phase will create 200 local jobs, contributing to the economic development of the Palencia region.

Get access to the most comprehensive company profiles on the market, powered by GlobalData. Save hours of research. Gain a competitive advantage.

Company Profile – Free Sample

Your download email will arrive shortly

We are confident in the exceptional quality of our company profiles. However, we want you to make the best decision for your business, which is why we offer a free sample that you can download by submitting the form below

By GlobalData







Please visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information about your rights in relation to your personal data and how you can opt out of future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address provided is your corporate email address.

Cero’s investment in the local community goes beyond job creation. The company has also committed to supporting conservation programs in Castile and León in the coming years.

The five solar projects will generate 480 gigawatt-hours (GWh) of renewable energy per year, enough to power 150,000 homes and reduce carbon dioxide emissions by more than 175,000 tonnes of CO₂e (carbon dioxide equivalent) per year.

Cero’s portfolio, which includes projects with a total capacity of 600 MW, already in operation or under construction, is one of the largest in Europe, with a capacity of 26 GW.

Cero Generation CEO Marta Martinez Queimadelos said: “We are delighted to have achieved financial close on this portfolio, which was achieved through close collaboration with all key stakeholders, including our lending partners Sabadell, Rabobank and ING, as well as our supply chain partners Elmya, Metlen and LONGi.

“We look forward to seeing these plants built, creating jobs for the local community, delivering a range of community benefits and ultimately bringing more renewable energy into the Spanish grid.”