MADRID 16 Oct. () –
Lightsource bp has successfully closed financing for an amount of 175 million euros for the construction of the ‘Guillena’ project, a cluster made up of five solar plants located in Andalusia and with a total capacity of 248 megawatts (MWp), the company reported. .
Specifically, bp’s ‘green’ subsidiary has had the support of the financial entities BBVA, BNP Paribas, CA-CIB and ING in the operation.
Construction of the project, which will begin in October of this year, will be carried out in collaboration with Cox, which will provide engineering and procurement services.
Once operational, the plants of the ‘Guillena’ project will be able to generate more than 515,000 megawatt hours (MWh) of clean energy annually, enough to supply the equivalent of approximately 132,000 homes.
This generation of renewable electricity will help avoid the emission of nearly 77,000 tons of CO2 each year, which is equivalent to removing more than 60,000 cars from the roads.
The ‘Guillena’ project, located in the municipalities of Guillena, Burguillos and Alcalá del Río (Seville), will favor the creation of local jobs, both during the construction phase and in the operation phase, for an estimated total of 350 , to which eight million euros of local taxes will be added.
The ‘country head’ of Lightsource bp Spain, Juan Luis Cantón, indicated that this milestone “marks the beginning of a new phase of expansion for the company in Spain.”
“In addition to the ‘Guillena’ cluster, we have a portfolio of more than one gigawatt (GW) of authorized solar projects that we hope to bring to construction within the next two years,” he said.
Lightsource bp had BBVA as a financial advisor in the structuring and closing of the financing; by White & Case on legal issues, and with Cuatrecasas, for legal due diligence activities.
For their part, the banking partners received advice from Rina for the technical aspects; from Gridlines, as financial model auditor; Watson Farley & Williams, for legal matters; Alvarez & Marsal, as tax advisors for the financing; and Howden, as an insurance advisor.
For the transaction, BNP Paribas will act as agent bank and operating bank; CA-CIB, as the sole structurer and provider of FX coverage; and ING, as IRS coordinator.
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