RP Global has received loans totaling €15.5 million (US$16.9 million) to build the 10-MW Vilar do Monte small hydropower plant in northern Portugal.
The funds came from Caixabank and Banco BPI.
The plant will be about 10 km from Viseu on the Vouga River. Construction started in the fall of 2015 and is expected to be complete in the third quarter of 2017.
RP Global reports this is the 11th small hydro plant it has built in Portugal, with the most recent being 10-MW Canedo on the Beca River, completed in 2009. Others are: 2.7-MW Aguas Frias, 6.4-MW Carregal,8.7-MW Ermida, 4.4-MW Paredes, 4.5-MW Pereira, 1.5-MW Ruaes, 9.6-MW Sao Pedro do Sul, 7-MW Teixo and 3.7-MW Vila Vicosa.
The company also developed the 18-MW Xerta hydro project in Spain. And in 2015 RP Global started construction of the Tranquil hydropower project in Chile.
RP Global is a developer and independent power producer with more than 30 years of experience in the renewable energy sector. The privately owned company focuses on hydro and wind projects.