Triodos Bank has loaned Spanish developer Gamma Solutions £17.9m (€20.0m) for two solar projects in the UK.
The projects are the 15.1MW Stokes Marsh facility (pictured) near Coulston in Wiltshire and the 5MW Stoneshill plant at Exeter in Devon.
Stokes Marsh was commissioned in March 2105 and Stoneshill in March this year and consist of over 62,000 solar panels across 41.5 hectares of land.
The finance package will help Gamma Solutions consolidate its UK solar portfolio and release funds for new projects.
The transaction combines two types of loans in one finance package. Some £15.1m of project finance from Triodos Bank, with a further £2.8m of mezzanine loans from the Triodos Renewable Europe Fund (TREF).
TREF is a dedicated renewable energy fund managed by Triodos Investment Management in the Netherlands.
Triodos Bank UK project finance lead Stirling Habbitts said: “In this case we were able to increase our finance offer by combining project finance with a mezzanine loan, creating a bespoke finance solution to meet our customer’s needs.”
Triodos is also collaborating with Gamma Solutions on the finance of further projects including a portfolio of rooftop solar projects in Spain.
Image: Triodos Bank
