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FRV – BBVA – Natixis agreement for Spanish solar energy

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Fotowatio Renewables Ventures (FRV), a subsidiary ofAbdul Latif Jameel Energy, and the banks BBVA and Natixis have reached a financing agreement for the construction of the San Serván 3, 4 and 5 solar power plants near the city of Mérida in Extremadura.

150 MW of solar power planned for 2023

The three plants will have a total capacity of 150 MW.
The San Serván complex will generate 300 GWh of clean energy per year, enough to power 108,000 homes and avoid 223,000 tonnes of CO2 emissions.
The project will be operational in the first quarter of 2023.
The San Serván project, like all FRV projects, has received Green Financing Framework certification, which designates the use of “green” tools (green loans, green bonds, etc.) for its financial structuring.

FRV and BBVA, long-term partners

The financing agreement between BBVA and the world leader in the development of sustainable energy solutions (FRV) is a further step in the strategy put in place by the two companies to support the global energy transition.
In all, FRV is currently developing a significant portfolio of energy assets in Spain, including a 3 GW pipeline covering 4 regions, mainly Andalusia.
Thanks to its assets in the autonomous community of Extremadura, the company has one of the largest photovoltaic portfolios in Spain.

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