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Verdian, an independent renewable energy producer headquartered in London, has secured a €55 million (~ $63.36 million) financing facility from Banco Santander for a 150 MW solar photovoltaic portfolio in Spain. The financing is eligible as a green project and will support the remaining construction work and the transition of the assets into commercial operation. The facility has an initial 3-year tenor with a 1-year extension option. Verdian also plans to integrate co-located battery energy storage systems across the portfolio with an indicative combined storage capacity of 320 MWh. The transaction reflects the company’s in-house financing capabilities and Santander’s continued participation in renewable energy financing.
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