USD139 million Financing secured for 238 MW solar project in Spain
Spanish solar developerEranovum, together with its international partnersNoy Fundand Nofar Energy, has secured financing worth EUR132 million (USD139 million) from a German pension fund for its238 MW Sabinar solarproject in Cuenca, Spain.
The Sabinar project comprises two phases:Sabinar I, operational at155 MW, andSabinar II, currently under construction at83 MW. Additionally, the province of Cuenca has hosted theOlmedillaplant, generating 169 MW of clean energy since July 2022. The combinedSabinar and Olmedilla projects represent an investment exceeding EUR350million (USD370 million). Together, they have a capacity of over 400MWp, supplying energy to approximately250,000households and preventing the emission of320,000 tonnesof carbon dioxide (CO2) into the atmosphere.
Inthis transaction, Eranovum, Noy Fund, and Nofar Energy receivedexclusive financial advisory from CaixaBank and legal advisory fromWatson Farley & Williams.
