Platina to construct solar plant in Spain

Financed from the firm’s Mistral Energy II renewables project fund, the new plant will provide power for 2,000 households per year.

Platina Finance, a London and Paris-based private equity fund manager which specializes in renewable energy investments, has begun construction on a solar energy plant in outside Toledo, Spain.

The plant’s construction is being financed through Platina’s Mistral Energy II renewables project fund, managed by Mistral Energy II’s Spanish investment company, Anemoi Renovables. The firm says the plant will be one of the most efficient in Spain, providing 2 MW of photovoltaic power. The power generated should be enough to power a small town, or 2,000 households, annually, according to the firm. Platina says the electricity generated will reduce carbon dioxide emissions by 4,000 tons per year. The plant occupies 9 hectares and comprises 25 units of panels.

The regional administration, Castilla la Mancha, has set a target of sourcing 100 percent of all electricity from renewable energy within 5 years.

The materials for the construction are coming from a variety of companies. Modules are coming from Swedish company REC and high performance inverters from Green Power. Anemoi has hired PV plant specialists Gamesa Solar (a subsidiary of Gamesa Group, a leading wind turbine manufacturer) to manage construction. German company Hadbank will assemble a structure that will be focused on speed, lightness, and resistance to wind. The 25 switchgear motor will be supplied by Siemens.

The project finance has been supported by Bayerische Hypo-und Vereinsbank’s London branch. Financing was structured and arranged by the UniCredit Group.