Octopus Renewables Infrastructure Trust has refinanced a portfolio of solar farms in France totalling almost 120MW.
The new €125.7m fully amortising debt facility has been provided by Allied Irish Banks, Societe Generale and La Banque Postale.
It extends the maturity date of the financing by over five years to December 2038 and reduces ongoing interest costs.
The portfolio consists of 14 fully operational solar assets with a total installed capacity of 119.5MW.
Global law firm Ashurst has advised the banks on the refinancing.
The Ashurst Paris team was led partner Mark Barges, assisted by senior associate Ghita Bennis, project finance associates Alix Damecour and Isabelle Renninger, and expertise counsel Emmanuelle Leroy.
Partner Jacques Dabreteau and associates Tristan Choppin de Janvry and William Toutain advised on public law aspects of the transactions, while senior associate Charles-Douglas Fuz provided corporate law advice and counsel Adrien Williot advised on real estate matters.
Partner Kerion Ball and senior associate Sana Dossa also advised.