- FRV has announced the commissioning of San Serván 400, a cluster of 3 projects of 50 MWdc for a total of 150 MWdc, in the municipality of Mérida, Extremadura.
- The inauguration of the facilities was attended by the Minister of the Presidency, Félix Bolaños, and the President of the Regional Government of Extremadura, Guillermo Fernández-Vara, who wished to say a few words during the presentation ceremony.
- The construction of the cluster has been carried out by means of an 89-million-euro project finance loan in equal parts (44.5 million euro) between BBVA and Natixis.
- The plants will have the capacity to supply around 108,000 households with clean energy and avoid the emission of 223,000 tonnes of carbon dioxide (CO2) per year.
Madrid, 9 March 2023
Fotowatio Renewable Ventures, part of Abdul Latif Jameel Energy and a world leader in the development of sustainable energy solutions, has announced the start-up of San Serván 400, a cluster of 3 projects of 50 MWdc for a total of 150 MWdc, in the municipality of Merida, Extremadura.
The opening ceremony, which was held on the site where the plants are located, was attended by the Minister of the Presidency, Félix Bolaños, and the President of the Regional Government of Extremadura, Guillermo Fernández-Vara, among other authorities from the central, regional and local administrations.
San Serván 400 will produce around 300 gigawatt hours (GWh) of clean energy per year, which is enough to supply around 108,000 Spanish homes and avoid the emission of 223,000 tonnes of carbon dioxide (CO2).
The entry into operation of the plants thus contributes to the Long-Term Decarbonisation Strategy (ELP) promoted by the Spanish government, which sets the path to achieve Greenhouse Gas (GHG) emissions neutrality in Spain by 2050.
The San Serván complex has a total capacity of 150 megawatts (MW). Its construction has been carried out through a financing agreement with BBVA and Natixis for an amount of 89 million euros under the project finance modality, divided equally (44.5 million euros).
The San Serván 400 plant is part of the “Young Talented Leaders” program, a joint educational initiative between FRV and the Fundación Instituto de Empresa, which awards a scholarship to young students who demonstrate academic merit and an entrepreneurial spirit. The scholarship covers all education and training expenses: tuition, accommodation, academic materials, travel and living expenses in Spain during the four years of undergraduate studies at IE University.
All the projects developed by FRV have the Green Financing Framework qualification which includes green bonds, project finance, green loans and any other financial tool applicable to projects, assets or groups of them.
The 150 MWdc San Serván 400 is the third photovoltaic project that FRV has operational in Extremadura, Spain, following the commissioning of San Serván 220 (138 MWdc) in 2022 and La Solanilla (50 MWdc) in 2020. In September 2022, FRV announced the construction of the 123 MWdc Carmonita Norte PV complex, also in Extremadura.