The photovoltaic plant, called ‘Alsemur-La Trucha’, is a 40 MWp project located in Manzanares, Ciudad Real.
Sunco Capital signed a contract in March with Grupotec, and the works are due to start in the first half of 2022.
The €30 million finance has been granted to Sunco Capital by Santander and includes the development, construction and commissioning of the PV plant.
Sunco Capital develops, invests in and operates renewable energy assets in Latin America and Europe to maximise value and long term returns for investors, bringing together a proven track record of over 5 GW in the development, M&A, construction, long-term capital structuring and O&M in the renewable energy sector worldwide. It has a track of 13.5 GW in development with +160 projects successfully developed in 20 different countries since 2008 and accumulates $7.3 billion in financing under international project finance since 2008.
Clifford Chance advised Sunco Capital with a Project Finance team led by partner José Guardo, senior associate Eduardo Sánchez Roldán, together with lawyer Gabriel Miranda and Elena Euba. The core team was assisted by associates Mónica Romero on Regulatory issues and Jorge Barrero and Itziar Kraus on Real Estate matters.
Santander was assisted by Uría Menéndez, with a team led by partner Ignacio Álvarez Couso, along with associate Lucas Delclaux.