Renewable energy project operator Green Arrow Capital (GAC), which specialises in alternative and sustainable investments, has begun construction of a new solar energy portfolio in Sanlúcar la Mayor (Seville). Comprising three projects, it will add 135 MWp of capacity to the assets forming part of the Green Arrow Infrastructure of the Future (GAIF) fund.

This operation represents a new step in the Italian company's expansion strategy in Spain. The location of the new projects in one of the areas with the highest solar radiation in Spain will produce around 274,000 MWh of clean energy per year.

Installation and commissioning
The financing has been arranged with Banco Santander by means of a medium-term construction loan, and the construction has been entrusted to the French company Voltalia under a turnkey contract. Its subsidiary Helexia will be responsible for the engineering, construction, installation and commissioning of the three projects. The construction fund will be refinanced after the portfolio becomes operational.

The three new assets are part of a portfolio now approaching 1 GWp of solar PV projects over which the GAIF fund has exclusive rights. These include a further 200 MW that are at an advanced stage and will be procured by GAIF in the coming months.

Strategic importance of the Iberian market
The Italian company's founder and Chief Investment Officer, Daniele Camponeschi, assessed the operation, "The creation of this new solar portfolio in Spain underlines the strategic importance of the Iberian market for Green Arrow Capital and follows other virtuous investments that enable the group to further consolidate its presence in a key industry such as solar energy."

This initiative, added Camponeschi, "also renews our commitment to the energy transition, confirming us as leaders in green investments abroad as well. Having an excellent partner like Voltalia by our side will enable us to guarantee the highest quality and sustainability in the implementation of the project."

Voltalia CEO Sébastien Clerc said, "We are excited about this first collaboration with Green Arrow Capital. This new contract confirms the momentum of Voltalia and Helexia in Spain.”

^{Photo: Green Arrow Capital}