Greenvolt secures financing for 57-MWp solar project in Hungary

Portuguese renewables company Greenvolt - Energias Renovaveis SA (ELI:GVOLT) announced today it has secured a EUR-36-million (USD 39m) project finance for implementing a 57-MWp solar park in Hungary.

The deal was inked with UniCredit Bank Hungary by Greenvolt Power, the group’s subsidiary for utility-scale renewable energy projects. With the agreement in hand, Greenvolt will construct, operate, and maintain the photovoltaic (PV) farm.

Greenvolt said it has already broken ground on the renewable energy asset and with this disbursement it estimates the PV plant will be up and running by the end of the first half of 2024.

Once completed, the solar facility should be able to generate 87 GWh of clean energy per year. Its output will be sold under the feed-in-tariff regime with an agreement to connect the solar park to the electricity grid already in place, Greenvolt noted.

(EUR 1.0 = USD 1.085)

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