NetOn Power, the industrial self-consumption platform for Europe by 547 Energy and Quantum Energy Partners, has announced the signing of a bank financing agreement for a 24 MW portfolio of industrial self-consumption PPAs with Triodos Bank.
The projects are located in 10 different sites across Spain, spanning 7 autonomous communities: Castilla y León, Castilla-La Mancha, Catalonia, the Basque Country, Navarre, Aragon, and Galicia. Some of the plants are already in operation, others are under construction, and the rest will reach COD within the next 24 months. These self-consumption plants will supply 100% renewable energy, enhancing the competitiveness of clients across various sectors.
The total financing amount is €14 million and is based on an innovative “Project Portfolio Finance” structure, which allows for counterparty risk diversification across 10 PPA contracts. The financing covers the construction phase of the projects plus a 14-year period, in line with the average duration of the PPAs.
