● With a joint financing of BBVA and Santander CIB of 82 million euros of debt, 6 million euros in RSD Credit and 20 million euros in Guarantees, X-ELIO successfully closes the financing of three projects in Extremadura, Spain, known as Los Llanos I – II – III
Madrid, 21 April 2023.
X-ELIO, a leading global company specialized in the development of renewable energy projects, has recently closed a financing deal for three solar PV projects, Los Llanos I, II and III, located in the Spanish region of Extremadura, specifically in the municipality of Medina de las Torres, Badajoz, Spain.
Los Llanos I – II – III, with a total installed capacity of 147 MW will together generate more than 300,000 MWh of clean energy per year, an average estimated supply of renewable energy to the equivalent of 91,800 homes/year.
With these new projects, X-ELIO consolidates its commitment to Extremadura, one of its strategic and key regions in Spain, where it opened a new office in Mérida last year.
Within X-ELIO’s Community Plan Program, in parallel to the development of these projects, the company has also deployed several actions in the municipality of Medina de las Torres with the purpose to support its socio-economic development under the Program’s 4 pillars of Education, Environment, Health and Communities. These initiates involve the donation of a hundred books to create a library and support reading in a local school; the financing of a playground adapted for children with special needs in the municipality, the installation of electric vehicles charges and mobile phone recharging systems using solar technology.
Nicholas Pentreath, Chief Financial Officer of X-ELIO stated: “The closing of this landmark financing agreement demonstrates the trust of two leading global banks in the development of X-ELIO’s high quality portfolio of sustainable solutions. It is a major step towards achieving our objectives of renewable energy deployment and keeps demonstrating the company’s ability to raise competitive finance with world leading financial institutions, as is Santander and BBVA”
“As part of BBVA’s commitment to sustainability, our goal is to accompany our customers and society in the process of transitioning towards environmental friendly production and industry models. Supporting the X-ELIO project, leader in the field of renewable energies, is a step further in our commitment to the deployment of renewable energy and CO2 reduction,” indicated Elena López Nieto, Director of Corporate Banking of Central Region for BBVA’s.
Benoit Felix, Global Head of Structured Finance at Santander CIB, said, “We look forward to many more projects like this one to help us in achieving our net zero targets, while reinforcing our leadership in the renewables sector. Congratulations to X-ELIO and everyone involved in the execution of this project: Santander remains fully committed to contribute to the future growth of X-ELIO´s platform on a global basis.”
X-ELIO is specialized in the development, construction, financing and operation of sustainable energy projects with a global presence in Europe, the United States, Latin America, Japan and Australia. The firm has 18 years of experience with more than 2.8 GW built. The group is a world leader in the development of renewable and sustainable energy, with a strong commitment to greenhouse gas reduction and the fight against climate change.
BBVA is a customer-centric global financial services group founded in 1857. The Group has a strong leadership position in the Spanish market, is the largest financial institution in Mexico and it has leading franchises in South America. It is also the leading shareholder in Turkey’s Garanti BBVA and has an important investment, transactional and capital markets banking business in the U.S. Its purpose is to bring the age of opportunities to everyone, based on our customers’ real needs: provide the best solutions, helping them make the best financial decisions, through an easy and convenient experience. The institution rests in solid values: Customer comes first, we think big and we are one team. Its responsible banking model aspires to achieve a more inclusive and sustainable society.
In its spirit to facilitate the transition towards a more sustainable and inclusive economy, BBVA aims to mobilize 300,000 million euros in sustainable financing. In fact, between 2018 and 2022 it has already mobilized 136,000 million euros, of which 78% related to climate action and 22% to inclusive growth. In its commitment to decarbonisation, it has been recognized as the most sustainable bank in Europe for the third consecutive year in the Dow Jones Sustainability Index.
About Santander CIB:
Santander Corporate & Investment Banking (Santander CIB) is Santander’s global division that
supports corporate and institutional clients, offering tailored services and value-added
wholesale products suited to their complexity and sophistication, as well as to responsible
banking standards that contribute to the progress of society.
X-ELIO Corporate Communications
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BBVA Corporate Communications
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Santander Corporate Communications
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