October 30, 2019 / 11:02 AM / 14 days ago

Israeli investment firm to raise 80 mln euros for Spanish wind project

LONDON, Oct 30 (Reuters) - Israeli investment firm Novasec said on Wednesday it has partnered with Enlight Renewable Energy to raise 80 million euros ($89 million) to help fund a 312 megawatt onshore wind farm in Spain.

The Gecama wind project, located in the Castilla La-Mancha region in central Spain, is owned by renewables developer Enlight and is expected to start construction in the first quarter of next year and will cost up to 330 million euros to complete.

Novasec, which finances renewable energy projects, said Gecama will be Spain’s largest onshore wind farm. The total revenue of the project will be around 2 billion euros over its lifetime. ($1 = 0.8996 euros) (Reporting by Nina Chestney, editing by Louise Heavens)

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