Sunco Capital, an investment company focused on the energy sector, announced that construction has begun at two solar PV plants located in Manzanares, in Ciudad Real (Spain).

The plants, totaling 83 MW of capacity, will occupy 191 acres and expected to be complete in 2021

Sunco said that the energy produced by the plants will be sold through long term PPA agreements with Shell Energy Europe Limited, a subsidiary of Royal Dutch Shell.

Sunco Capital has secured financing for the design, construction, commissioning and operation of the plants with Banco Santander.

Once complete, the plants with be the first operating assets owned by the company, representing a milestone for its objective to contribute against climate change.

“The commitment of companies like Shell and Santander facilitates the investment in renewable energy projects, which are essential for the transformation of the current energy model”, Tony Artiga, CEO of Sunco Capital has declared. “We are delighted to unveil this investment commitment and agreements, which are the first step in our contribution to the decarbonization of the electric industry”.