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Renovalia obtains €29.7M financing for solar portfolio in Spain

Renovalia Energy SA has secured a €29.7 million senior credit loan from Banco Sabadell for its Puertollano solar portfolio in Spain.

The 79.2-MW portfolio comprises five photovoltaic plants being built in Ciudad Real, according to an Aug. 6 news release. The plants are expected to first sell their outputs through a power purchase agreement, and then directly to the market.

Banco Sabadell hired Watson Farley & Williams as its legal advisor, while Renovalia Energy tapped J&A Garrigues for the same role.