Capital Energy, a Spanish energy company, has raised financing of €165 million (~$167 million) for 206 MW solar and wind projects from MEAG, an asset manager of Munich Re and ERGO.
Capital Energy plans to allocate new project finance to five renewable facilities, comprising four wind farms, one of which is operational, and one solar project.
The wind projects have a total capacity of 198 MW. They are located in Palencia and Soria (Castilla y León) and Albacete (Castilla-La Mancha). The solar project with an 8 MW capacity is located in Cuenca (Castilla-La Mancha).
The operation, advised by renowned legal firms such as Cuatrecasas and Ashurst, opens a new way of raising financial resources for Capital Energy, which is currently analyzing different financing options in the short, medium, and long term to develop your business plan.
These five clean energy infrastructures are expected to generate significant environmental value when they come into operation, foreseeably between this year and 2024. Together, they will produce around 675,000 MWh of clean energy per year, equivalent to the consumption of more than 250,000 Spanish households. They will also prevent the annual emission into the atmosphere of nearly 240,000 tons of CO 2.
Recently, Umbrella Solar Investment, a Spanish company focused on photovoltaic solar energy, has secured debt financing from Incus Capital, an investment firm, and equity co-investment with Rgreen Invest through its Infragreen IV vehicle for the 212 MW of solar project in Spain.
According to recently released Mercom’s 1H and Q2 2022 Solar Funding and M&A Report, announced large-scale project funding in Q2 2022 came to $6.9 billion, a 24% decrease compared to $9 billion in Q1 2022.
In July 2022, Leeward Renewable Energy, an owner, and operator with a portfolio of around 2,000 MW of generating capacity from renewable sources, closed $58.5 million financing and tax equity commitments for its Rabbitbrush Solar Project in Kern County, California.