The sustainable energy company X-Elio has closed a financing agreement with Bankinter, thereby securing 35 million euros. This capital will be used to complete the development, operation and maintenance of three solar energy projects with a total capacity of 67 megawatts. The projects are distributed between the Valencian Community and Murcia.

The first two projects will be located in Jijona (Alicante) and have a combined capacity of 50 megawatts. The first of these has been in operation since 2021, and the second is already under construction and is expected to be completed in the coming weeks. The third, located in the Murcian municipality of Fuente Álamo, will have a capacity of 17 megawatts.

Spain's energy transition targets
In addition to construction, the company will continue to be involved in the operation and maintenance phases of the three projects. X-Elio, owned by Canadian investment firm Brookfield, has promoted 2.8 gigawatts of renewable projects since it was founded eighteen years ago. Its facilities are spread across Europe, the United States, Latin America, Japan and Australia. With the new project, it aims to contribute to achieving Spain's energy transition goals.

X-Elio's Chief Financial Officer, Nicholas Pentreath, said, “Our mission is clear. We will continue to deliver high-quality projects in Spain, a market that has always proven to be strategically advanced and a key location for developing clean energy. We will continue to take advantage of market opportunities to respond to climate needs in collaboration with leading partners like Bankinter.”

Brookfield Renewable Partners and US fund KKR each acquired a 50% stake in X-Elio, formerly Gestamp Solar, in 2019. In March of this year, the Canadian fund bought the other 50% from its partner for 900 million dollars.

^{Photo: X-Elio}