Platina Partners has augmented its position in the Spanish solar market, having provided €128 million ($182 million) in debt financing for two projects in Andalucía.
The London- and Paris-based firm provided financing of €44.6 million for a 5.7-megawatt plant in Sevilla, which is expected to be completed in September 2008. It also provided €83.7 million for El Coronil II, an 11.4-megawatt plant that is part of the region’s largest solar plant spread across 22 hectares. It, too, is slated to finish construction in September.
Sevilla: Solar source
“These two investments underline our commitment to strengthening our presence in the solar energy sector across Europe,” Platina director Alexandre Labouret said in a statement.
He noted the firm is pleased it has assembled a Spanish portfolio of three plants in less than six months via subsidiary Anemoi, a Spanish wind and solar power investment company it set up in January 2007.
In April, the firm backed the construction of a new solar plant in Ocaña, Toledo. All three Spanish investments have been funded from the firm’s Mistral Energy II Fund, which closed on €30 million in January.
The fund makes early stage investments in continental European wind energy, wave energy, biofuel and geothermal projects and is twice the size of its €15 million predecessor.