Solaria, a leading European company in the development of renewable energies and infrastructures, has reached an agreement in principle with Banco Sabadell for the long-term financing of 175 MW.

The agreement is subject to the successful completion of the due diligence of the projects and the final approval of the bank’s risk committee. The financing will be in the form of syndicated project finance for an amount of up to 93.5 million euros.

The financing obtained through this transaction will enable the Oliva Solar project, which will be developed in the province of Guadalajara, to be promoted. This initiative is closely linked to the construction of a data center that will operate under an energy self-consumption model, with an assured capacity of 70 MW, which reinforces Solaria’s commitment to sustainable and innovative solutions in the field of digitalization and energy transition.

Solaria’s CEO, Darío López, said: “We are very pleased to announce this agreement, which reflects Banco Sabadell’s reiterated confidence in our company. This financial operation represents a firm step towards the fulfillment of our goals and, consequently, towards the promotion of the energy transition, an essential aspect for the progress of society”.

The energy fed into the grid from the 175 MW photovoltaic plants will be 100% renewable and will be able to supply 84,000 Spanish households per year.