Amarenco, financed by private bank Berenberg, acquires a 50 MW solar park in Spain near Seville from Hanwha Energy.
The Group’s 1st Spanish acquisition will be financed not only for the construction work, but also for the operation of the solar power plant for 5 years.
Amarenco to supply 14,000 households with electricity from its power plant
The Amarenco Group has completed its first acquisition in Spain.
The company has announced the purchase of a 50 MW solar park from Hanwha Energy.
The project has been made possible thanks to the support of the private bank Berenberg.
Thanks to the Berenberg Green Energy Junior Debt Fund, the bank will finance both the construction and operation of the plant over a 5-year period.
Located in Carmona, Seville, Las Naranjillas consists of 121,800 photovoltaic modules.
The site covers an area of no less than 137 hectares.
The plant will meet the electricity needs of around 14,000 households.
During construction, the plant will create 80 new jobs.
Its operation will also reduce CO2 emissions by 51,977 tonnes.
A figure equivalent to the consumption of 10,192 vehicles.
The Iberian photovoltaic market: Amarenco’s new objective
Amarenco also intends to continue acquiring photovoltaic projects in Spain and Portugal over the next five years.
An ambition shared by John Mullins, Executive Chairman of the Amarenco Group:
“The Iberian Peninsula is now a key market for Amarenco. We expect this market to represent a significant part of the balance sheet in the future”.
This collaboration with Berenberg Bank thus enables Amarenco to enter the Iberian photovoltaic market.
A partnership that both companies are keen to pursue for future investments.
