Agência para o Investimento e Comércio Externo de Portugal


Solaria Energia y Medio Ambiente SA (BME:SLR) has reached an agreement in principle with French bank La Banque Postale to obtain financing for the construction of 64 MW of solar projects in Portugal.

The Spanish solar developer expects to get up to EUR 23 million (USD 27.6m) in long-term project financing from the lender.


The funds will be disbursed only after the due diligence review of the solar projects, currently under construction, is successfully completed and La Banque Postale's risk committee gives the green light.


The financing will support projects awarded in the auction that was held in July 2019. At that time, a total of 25 projects across 24 lots were allocated 1,150 MW of nominal power, with a record low price bid of EUR 14.76 per MWh.


The Portuguese government is planning to inaugurate the Solaria plants on May 17.