X-ELIO closes a financing of 89 million euros with Societe Generale for 3 renewable projects in Spain

  • The funds will be allocated for the development and construction of several projects situated in Spain
  • Specifically, PV plants located in Almería, Granada and Murcia will benefit from this operation
  • The progress of these projects and their connection to the grid will boost the development of solar photovoltaic energy in the country to achieve the proposed energy transition goals and help boost local economies

Madrid, 05 March 2024. – X-ELIO, the world’s leading company specializing in the development of renewable energy projects, has announced the closing of a major 89 million financing deal with Societe Generale as sole Bookrunner, Mandated Lead Arranger and Hedge Provider. With these funds, which will be allocated to the development and construction of several projects situated in Spain, the company intends to continue promoting photovoltaic solar energy in Spain. 

This financing will be assigned to three key projects for the company, totaling 123 MWp, located in different regions of Spain and at different stages of development. The assets involved in the operation are an X-ELIO PV plant in Almeria, which is currently reaching the end of its construction phase; and two further plants, one located in Murcia and the other in Granada, both under construction since the end of 2023.

The financing has been closed in February 2024, which undoubtedly marks an important step forward in X-ELIO’s mission to increase clean and sustainable energy generation capacity for the reduction of carbon emissions and the creation of jobs in the energy sector in the localities where they are located.

Lluís Noguera, CEO of X-ELIO said: “We are very pleased to be able to count on the support of Societe Generale for these key projects in our portfolio. This funding will accelerate the implementation of our vision for a more sustainable and environmentally friendly future. We expect these projects will not only generate clean energy, but also contribute to the economic growth of local communities and the fight against climate change.”

Donato González, Group Country Head for Spain at Societe Generale said: “Societe Generale is pleased to support X-ELIO in the development of renewable projects in Spain.  As a financial services provider Societe Generale is also firmly committed to play a key role in the success of a responsible ecological transition. We stand by our clients to help them have a positive impact on society.”

About X-ELIO

X-ELIO, a Brookfield-owned company, specializes in the development, construction, financing, and operation of renewable energy projects with a global presence in Spain, Italy, the United States, Latin America, the Middle East, Japan, and Australia. With more than 19 years of experience and 2.8 GW built, this world-leading company is strongly committed to sustainability, the reduction of greenhouse gasses, and the fight against climate change. For more information, please visit our website at www.X-ELIO.com , our LinkedIn profile at https://www.linkedin.com/company/x-elio, or our Twitter profile at https://twitter.com/X_Elio.

Press Contacts: 

X-ELIO Corporate Communications:

Javier Garzón

E: press@x-elio.com

T: +34 680 69 20 07

Kreab (X-ELIO’s agency):

Luciano Figari / Eva Tuñas / Paola Luelmo

E: x-elio@kreab.com

T: +34 616 220 250 /+34 635 186 419 /+34 639 973 417