corporate_banner_en

Climate action: EIB finances construction of one of Spain's largest solar plants in Cáceres

The blog
Press corner
All press releases
All other news
Press contacts
Events
All events
Business events
Institutional events
Newsletter
Publications
All publications
General
Reports
Information
Human resources
Strategies & procedures
Thematic
Geographical
Technical studies
Ex-post evaluation
Capital markets
Economic research
Ordering a publication
EIB Historical Archives Policy
EFSI Scoreboards
Help
Search criteria - General principles
How to search in the register
Result page
Latest documents
Basic search
Public register
Latest documents
Basic search
Frequently asked questions
Help
Search criteria - General principles
How to search in the register
Result page
Request a document
Other public registers
Picture library
News in pictures
Management Committee's Photos
Werner Hoyer
Dario Scannapieco
Jonathan Taylor
Ambroise Fayolle
Andrew McDowell
Vazil Hudák
Alexander Stubb
Emma Navarro
The EIB services
Building
Archives
Former Presidents
Former Vice-presidents
from left to right: Mustafa Abdel-Wadood, CEO,Abraaj Capital Limited, Philippe de Fontaine Vive Curtaz,Vice President, EIB and H.E. Eng. Yarub Qudah, CEO of JEDCO
Greater Manchester Metrolink extension
Mr Olaf Scholz, Mayor of Hamburg
Fritz Vahrenholt, Chief Executive Officer, RWE Innogy GmbH, Germany, Karina Veum, Senior Researcher, Energy Research Centre of the Netherlands, Alistair Buchanan, Group Chief Executive, OFGEM, UK regulator of gas and electricity markets and Frauke Thies, EU Energy Policy Coordinator, Greenpeace
Mr Matthias Kollatz-Ahnen, Vice-President of the EIB
from left to right:Jörg Vogt, CFO, Trianel, Germany (Project: Borkum West II Offshore Wind Park), Pierre Lestienne, CFO, C-Power, Belgium (Project: C-Power near Ostend) and Georg Friedrichs, Vice-President, Head of Offshore Wind Projects, Vattenfall, Germany (Project: Thanet Offshore Wind Farm)
from left to right: Mr Kevin Smith, Director Wind Energy, Det Norske Veritas, Norway, Mr Frank V.Nielsen; Chief Technology Officer, LM Wind Power, Denmark and Mr Konstantin Staschus, Secretary General, European Network of Transmission System Operations for Electricity (ENTSO-E)
from left to right: Mr Rober Harrabin, Environmental Analyst, BBC and Mr Hans-Jörg Bullinger, President, Fraunhofer-Gesellschaft of Germany
Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division, Mr F. de Paula Coelho, Director of the ALA Department of the EIB and Mr Christophe Nègre, Deputy Head of Division, Legal Department of the EIB
From left to right: Mr. de Paula Coelho, Director of the Asia Latin America Department and Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division
From left to right: Mr. de Paula Coelho, Director of the Asia Latin America Department of the EIB and Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division
Mr Paulo Roberto de Oliveira Araujo, Head of Department, BNDES International Division
Group picture of the signature Brazil Climate Change Mitigation
Picture of all the participants at the signature EFL loan for SMEs and Mid-Caps III
FROM LEFT TO RIGHT: Mr ANDRZEJ KRZEMINSKI President of the Management Board- EFL and Mrs FÜRSTENBERG-LUCIUS, Director EIB
FROM LEFT TO RIGHT: Mr ANDRZEJ KRZEMINSKI President of the Management Board- EFL and Mr Mariusz KOLWAS, Vice-President of the Management Board - EFL
FROM LEFT TO RIGHT: Mr Andrzej KRZEMINSKI President of the Management Board- EFL Mrs Anita FÜRSTENBERG-LUCIUS, Director EIB Mr Anton ROP, Vice-President of the EIB
FROM LEFT TO RIGHT: Mr Andrzej KRZEMINSKI President of the Management Board- EFL Mrs Anita FÜRSTENBERG-LUCIUS, Director EIB, Mr Anton ROP, Vice-President of the EIB
FROM LEFT TO RIGHT: Mr Andrzej KRZEMINSKI President of the Management Board- EFL Mrs Anita FÜRSTENBERG-LUCIUS, Director EIB Mr Anton ROP, Vice-President of the EIB
FROM LEFT TO RIGHT: Mr Zygmunti TRYBKA, Director of the Financing Department EFL and Mr Piotr KOZIOL, Director of the Legal Department EFL
Group picture of the signature EFL Loan for SMEs and Mid-Caps III
from left to right:Mrs Flavia Palanza, Associate Director for Central and Eastern Africa, EIB, Mr. Jack Nkusi Kayonga, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director responsible for Africa, Caribbean and Pacific operations.
from left to right: Mr. Jack Nkusi KAYONGA, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director of the Central and Eastern Africa, Pacific Department of the EIB
Mr. Jack Nkusi KAYONGA, Chief Executive Officer of the Rwanda Development Bank
from left to right:Mrs Flavia Palanza, Associate Director for Central and Eastern Africa, EIB, Mr. Jack Nkusi Kayonga, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director responsible for Africa, Caribbean and Pacific operations.
from left to right:Mrs Flavia Palanza, Associate Director for Central and Eastern Africa, EIB, Mr. Jack Nkusi Kayonga, Chief Executive Officer of the Rwanda Development Bank and Mr Patrick Walsh, Director responsible for Africa, Caribbean and Pacific operations.
J.A.Mannai, Président du Fonds Monétaire Arabe; P.Maystadt, Président de la BEI; A.M.Ali Al-Madani, Président de la Banque Islamique de Développement; F.Baroin, Ministre de l'Economie, des Finances et de l'Industrie; D.Kaberuka, Président de la Banque Africaine de Développement; C.Lagarde, directrice générale du FMI
Photo de la signature
Photo de groupe de la signature
from left to right: Founders and biggest investors:
From left to right: all investors+Fund Manager:
Mr Anton Rop, Vice President of the European Investment Bank
de gauche à droite: M. Othman Ben Arfa, PDG de la STEG, M. Philippe de Fontaine Vive, Vice-président de la BEI et M. Mohamed Nouri Jouini, Ministre du Développement et de la Coopération Internationale
de gauche à droite: M. Othman Ben Arfa, PDG de la STEG et M. Philippe de Fontaine Vive, Vice-président de la BEI
de gauche à droite: M. Othman Ben Arfa, PDG de la Société Tunisienne de l'Electricité et du Gaz , M. Philippe de Fontaine Vive, Vice-président de la BEI et M. Mohamed Nouri Jouini, Ministre du Développement et de la Coopération Internationale
De gauche à droite:
Closing Ceremony Rural Impulse Fund II SA, SICAV-SIF; Luxembourg 1st June 2010
Closing
de gauche à droite: M.Carlos Da Silva Costa ,Vice Président de la BEI et M. Valls i Riera, Président de l'Autoridad Portuaria de Barcelona.
de gauche à droite: Carlos da Silva Costa, vice-président de la BEI et Ignacio Galán, Président d'Iberdrola
M. Philippe Maystadt, Président de la BEI, S.E.M. Premier Ministre de la Serbie et M. Dario Scannapieco, Vice-Président de la BEI à la signature de contrats
M. Philippe Maystadt, Président de la BEI et S.E.M. Mirko CVETKOVIC, Premier Ministre de la République de Serbie à la signature du livre d'or
Mr. I Dalianis, Financial Manager of Symetal ,Mr. K Kontos, General Manager of Symetal , Mr P Sakellaris Vice President of the EIB, Mr. D Kyriakopoulos, Executive Vice President of Elval and Mr. L Varouchas, General Manager of Elval
Mr P.Sakellaris, Vice President of the EIB and Mr D. Kyriakopoulos, Executive Vice President of Elval
Mr P. Sakellaris, Vice President of the EIB and Mr D.Kyriakopoulos, Executive Vice President of Elval
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
Press conference in Athens today, Mr Plutarchos Sakellaris, Vice President of the EIB
The Marseille Center for Mediterranean Integration is launched today
Le Centre de Marseille pour l’Intégration en Méditerranée est inauguré aujourd’hui
Photos
Session on "Modelling Cities and Urban Dynamics" hosted by the EIB-University Action Programme
Projects
Video library
All videos
Podcasts
Open learning
Contact

Climate action: EIB finances construction of one of Spain's largest solar plants in Cáceres

    •  Display in:
    • de
    • en
    • es
    • fr
  • Available in: de en es fr
  •  Release date: 20 December 2018
  •  Reference: 2018-361-EN
  • The EIB is granting a EUR 70m Juncker Plan loan to Talasol Solar to build and operate the plant in Talaván
  • This is one of the first photovoltaic energy projects to be financed in Spain outside renewable energy auctions
  • The plant will be operational in 2020 and will create 500 jobs during the implementation phase 

The municipality of Talaván in Cáceres will be home to one of Spain's largest solar photovoltaic power plants, and one of the first in the country to be financed outside renewable energy auctions. The European Investment Bank (EIB) is financing this project with a EUR 70m Juncker Plan loan with the aim of helping to combat climate change. When it starts operating in 2020, this new plant will prevent the release of 263 000 tonnes of CO2 into the atmosphere a year by generating electricity using solar energy.

The EIB is granting this EUR 70m in financing to Talasol Solar via a project finance arrangement making it possible to build and operate the new facility. The solar plant will have a capacity of 300 MW.

The project is under development by Ellomay Capital Ltd. and is a major step forward for the renewable energy sector in Spain as it is being financed at market rates. The EIB is providing this loan under the Investment Plan for Europe, known as the Juncker Plan. This increases the EIB Group’s capacity to finance investment projects that, in line with the Plan’s criteria, involve activities which by their structure or nature make it possible to support objectives such as combating climate change and ensuring sustainable economic growth.

The new Talaván solar photovoltaic plant will create new economic opportunities in the Extremadura region. The project will necessitate the employment of 500 people during the implementation phase and 15 on a permanent basis once the plant is operational. It will also help achieve the objectives set by the National Renewable Energy Action Plan, which states that 20% of the energy used in Spain in 2020 must come from renewable sources.

On the agreement, EIB Vice-President Emma Navarro said: “This project will help to increase electricity generation using solar energy, which is important for meeting European renewable energy goals in Spain, as well as for promoting sustainable growth and cutting carbon emissions. We are delighted to announce our support for this project just few days after the climate change conference held in Katowice, a great opportunity to show the world that the EIB is committed to the Paris Agreement and combating climate change. We will continue working to mobilise financing for climate action projects and to ensure that all of our activities are fully in line with the Paris objectives in 2020.

EU Commissioner for Climate Action and Energy, Miguel Arias Cañete said: “This new Juncker Plan agreement couldn't be timelier, as last week in Katowice we showed the world how the EU can lead the fight against climate change, for a prosperous, competitive and climate neutral economy by 2050. And sustained investments in the energy of tomorrow are instrumental in this endeavour. We will ensure that no region is left behind, and I'm particularly glad to see that Extremadura will benefit from this great project in terms of growth, jobs and regional development.

Ran Fridrich, CEO at Ellomay, said, “The execution of the financing agreement is a significant accomplishment and one of the final and major step forward in the Talasol Project. The Company is very pleased with the progress achieved so far in line with the planned schedule. Talasol is a pivotal project for Ellomay capital as it is bound to serve as a model for our continued growth in developing constructing and operating solar projects in Europe and Israel.”

Ori Rosenzweig, chief investment officer at Ellomay Capital, said, “The fact that two major banks, Deutsche Bank and EIB, are financing the project testifies for its significant success potential. I believe we have obtained the optimal funding terms required for the project that will set a new standard for the future solar energy production in Spain and Europe. Talasol couldn't reach this important milestone, without the positive support throughout the process from the Spanish government, local government and the municipality of Talaván. Needless to say, this has helped us move forward quickly and efficiently.”

The EIB and climate action

The EU bank is the multilateral institution that provides most finance for climate action worldwide. The EIB dedicates at least 25% of its total activities to this priority, a figure that increases to 35% for developing countries.






Project data sheets



 Print
 Pdf
 Short Link