By means of its SC Efficiency & Environment Fund II managed fund, Suma Capital has completed the acquisition of Hinojosa Solar, S.L, which owns the assets and licenses of a 22MW photovoltaic project.
Solraba, a development and maintenance company with more than 10 years of experience in the photovoltaic sector, will take charge of the project to build and operate a 22MW photovoltaic solar plant located in Hinojosa del Valle, in the province of Badajoz. The total investment amounts to 16 million Euros, of which up to 60% is expected to be bank debt with the rest being contributed by Suma Capital.
When built, the project will produce 43.5 GWh per year of renewable energy that will be sold through a Power Purchase Agreement (PPA). The construction of the plant will be carried out by Endesa through an Engineering, Procurement and Construction (EPC) contract and operation and maintenance will be carried out by Solraba.
Renewable generation makes use of local and inexhaustible resources and avoids emissions, contributing to a reduction in energy dependence and improved competitiveness. This project will help reduce emission by more than 6,000 tons of CO2 per year.
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