Grenergy, a renewable energy company, secured €98.8 million (~$116.26 million) senior non-recourse financing for the 172 MW Ayora solar project. The financing also includes a €13.6 million (~$15.97 million) line of credit loan. The project is located in Valencia, Spain. Banco Santander has fully underwritten the transaction. The project’s construction is complete and is now in the commissioning phase. The project has a 15-year power purchase agreement.