Wednesday 30 October 2019

Novasec secures rights to raise €80m for 312MW onshore wind farm in Spain

Novasec secures rights to raise €80m for 312MW onshore wind farm in Spain

Novasec has secured exclusive rights to raise €80 million (£69m) to fund the development of a 312MW onshore wind farm in Spain.

The Gecama project is expected to become the country's largest onshore wind farm - it is the first of several projects Novasec hopes to help fund using a new and innovative investment platform.

It secured the rights through an agreement with Enlight Renewable Energy, the owner of the proposed facility.

The wind farm is scheduled to enter construction at the start of 2020 and is expected to cost up to €330 million (£284.5m) to complete.

The total expected revenue over the lifetime of the project is €2 billion (£1.7bn).

Written by

Bruna Pinhoni

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