Copenhagen Infrastructure Partners (CIP) has closed a long-term project financing credit facility with the BBVA for the investment in the Monegros portfolio of 12 onshore wind farms in Aragon, Spain.
BBVA has had all significant roles, including sole bookrunner, structuring bank, and green loan coordinator in this transaction amounting to a total of EUR380 million (US$434.32 million). Apart from BBVA, the final club deal group was composed of five other European banks.
This investment in the Monegros onshore wind farms, part of Copenhagen Infrastructure III K/S, is among the largest renewable energy investments made in Europe and the largest energy deal secured with power purchase agreements in Iberia to date. The project will provide a total installed capacity of 487 MW, and when in full operation, is expected to generate approximately 1.5 TWh of renewable power annually, sufficient to meet the demand of 430.000 Spanish households. The financing has been certified as a green loan by DNV-GL.
Country updates
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EIB invests EUR43.5mn in La Cabrera Solar Project in Andalusia
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EIB invests in La Cabrera Solar Project in Spain
The European Investment Bank (EIB) is investing EUR43.5 million (US$ 48.7 million) to finance the largest solar project in Andalusia and one of the most powerful in Spain.
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