Aquila Clean Energy has concluded a EUR1 billion (US$995.6 million) financing for the development of 2.5 GW of renewable energy projects in Spain and Portugal over the next three years. The projects will be installed in the regions of Castilla y León, Comunidad Valenciana, Andalucía, Cantabria, Castilla-La Mancha and Murcia, in Spain, and Setúbal, Coimbra, Evora, Leiria, in Portugal.
The pipeline includes around 50 solar photovoltaic (PV) and onshore wind projects with a combined power generation capacity of 2.6 GW, which is equivalent to the annual electricity consumption of approximately 1.4 million households. These projects are anticipated to generate 5.3 TWh per year.
Santander worked as the Security and Facility Agent. NatWest served as the Documentation Agent, while KfW IPEX-Bank operated as the Hedging Documentation Agent. Additionally, BNP Paribas, ING, Intesa Sanpaolo, and Banco Sabadell backed the facility. CMS and White & Case represented the debtors and lenders, respectively. Glas SAS acts as Administration Agent.
