German solar technology products distributor BayWa GmbH has achieved financial close on 100 million euros ($115.8 million) construction bridge financing for its 174 megawatts Don Rodrigo solar photovoltaic project in Seville with lender Norddeutsche Landesbank.
The generated electricity will be sold to Norwegian Energy Group Statkraft under a 15-year power purchase agreement signed also in April.
In April, BayWa announced that construction work was already underway. It is expected to be grid connected by the end of the year.
When complete, it will become one of Europe’s subsidy-free solar parks.