SPEX is a 20 megawatt solar PV power plant located in Extremadura, South-West Spain. The project benefits from high and predictable levels of solar irradiation and has a track record of excellent operational performance since inception in 2008. The plant generates 40 gigawatt hours of energy per annum and receives a regulated tariff until 2038, resulting in stable revenues and cash flows over the life of the project. The EUR 71 million investment was completed in August 2016.