Naturgy is a leading multinational company in the energy sector, present in Spain and Latin America, and a pioneer in gas and electricity integration.
The three plants – the 50 MW Los Belos, 11.2 MW El Muelle and 50 MW Montesol – are all located in the Spanish region of Aragon.
The bonds were subscribed by institutional investors managed by BlackRock through a private placement, and traded on the “Quotation Board” of the Frankfurt Stock Exchange.
This was a major renewables project financing in terms of the capacity of the projects in the Spanish market, as well as one of the biggest to date worldwide.
This is one of few “merchant” plant financings in Spain, with the project expected to sell its energy, first through a PPA, and then directly to market.
It was a pleasure to work with Solarpack on this new step forward in their Spanish expansion plans, having also done so recently on a significant photovoltaic acquisition financing in Peru.
Grupo Hospitalario Recoletas is a leading Spanish healthcare group specialising in the management of hospitals and private healthcare clinics.
The wind park, which is owned by Spanish energy Company Villar Mir Energía, is under construction and goes live in Q1 2020.
We are pleased to have advised CaixaBank once again on a transaction that highlights them as a major player in the renewables sector.