Audax breaks ground on 20 MWp of Spanish solar projects

Solar house
By markheseltine on 2011-06-05 20:28:01
tags Audax breaks ground on 20 MWp of Spanish solar projects

October 28 (Renewables Now) – Spanish renewable energy group Audax Renovables SA (BME:ADX) has commenced the construction of four solar projects with a combined capacity of 20 MWp in Toledo province, Spain.

The group said it will invest EUR 9.2 million (USD 10.8m) to build the La Zarzuela I, II, III and IV photovoltaic (PV) plants, partially sourcing the financing from the EUR-20-million green bond issuance launched in September.

Chinese solar products maker Risen Energy Co Ltd (SHE:300118), through its Spanish unit, has been hired at the engineering, procurement and construction (EPC) contractor, while solar solutions firm and the La Zarzuela developer, Immodo Fotovoltaica, will supervise the build.

The four 5-MW PV parks will have 59,760 solar panels in total. Once in operation, the La Zarzuela plants will be able to generate 32.44 GWh of solar energy per year, enough to meet the annual demand of over 9,400 households.

Last week, Audax announced the start of construction of four 5-MW Las Alberizas projects in Guadalajara province, which will also be financed with bond proceeds.

(EUR 1.0 = USD 1.178)