Ignis has achieved a financial closing amounting to €335m for the development of solar projects in Spain.
The loan will allow Ignis to finance projects up to 500MW of capacity, covering a relevant part of the debt necessary for the development of its strategy regarding the design, construction, promotion and operation of the solar assets.
The transaction was led by Deutsche Bank, as sole underwriter, with the participation of Rabobank, ABN Amro and Triodos Bank.
Ignis was advised by Cuatrecasas and the financial institutions by Clifford Chance.
The renewable developments that Ignis will initiate between 2023 and 2024 possess the environmental permits necessary for their construction.
These new solar plants will contribute to the socio-economic development of the areas where they are located, favouring new job opportunities in various municipalities, by means of hiring qualified personnel in both the construction and maintenance stages of the plants.
The solar plants, owned by Ignis, will also be fully operated and maintained by the company and add to a portfolio of around 5GW managed operating assets (owned and third-party).
The company recently signed several power purchase agreements linked to the commissioning of new solar power plants in Spain.