The manager Everwood Capital has closed an agreement to finance the installation of 300 MW of photovoltaics in Seville and Córdoba. The Santander money will thus be added to that granted by the European Investment Bank, which will provide 166 million euros for the construction of a total of five photovoltaic plants, which will require an investment of 346 million euros. The five solar plants included in the Bética project will have a total capacity of 450 MWp, of which two thirds will be in Córdoba.
The EIB explains that the objective of this financing is to contribute to national and EU energy and climate goals, that is, to help decarbonize electricity production and reduce dependence on fossil fuels. The plants will be implemented in areas classified as EIB Cohesion Priority Regions, thus supporting regional development.
The Bética project intended to have its financing tied up throughout this year, to begin work in 2025 and have the facilities operational in 2026.
The scope of the project also includes overhead transmission lines for connecting the plants to the electrical grid. Compliance with the applicable EU Directives, in particular with regard to cumulative impacts and potential impacts on nature conservation sites, will be further assessed later.
Currently, the Everwood Renewable Strategy Funds have a joint portfolio of renewable projects with a capacity of 2 GW in Spain and 2 GW in the rest of Europe. The manager has a portfolio of projects with Administrative Construction Authorization (Administrative Authorization of Construction) of around 1 GW of capacity, for which obtaining EPC and financing has been progressing.
Everwood is one of the main renewable energy fund managers in our country with more than €800 million in assets under management through its Funds IV and V.
The manager was established in 2015 and has a portfolio of 4 GWp of projects under construction or development in Spain, Italy, France and Germany. In addition to its activity in energy, Everwood has a fund specialized in the transport and logistics sector with a target size of 200 million euros. The manager, in fact, has purchased 75% of the logistics operator A tu hora express, which It thus becomes the fifth operation in this sector with AGSA, Partida Logistics, Transáez and Maresa Logística.
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