Ellomay Capital Ltd. has announced the signing of a credit agreement with Bankinter for a total amount of approximately EUR18.4 million (US$21 million) to finance the construction and commissioning of its Spanish photovoltaic plants.
Bankinter has granted an amount of approximately EUR3.6 million (US$4 million) to Rodríguez I Parque Solar, SLU; EUR6 million (US$6.7 million) to Rodríguez II Parque Solar, SLU; EUR3 million (US$3.3 million) to Seguisolar, SLU; EUR5 million US$5.6 million) to Ellomay Spain, SL; and a revolving line of credit to service the debt in case of need, for a maximum amount of EUR0.8 million (US$0.9 million) to any of the subsidiaries.
The termination date of the project finance is December 31, 2037, and an annual interest at the rate of Euribor 6 months plus a margin of 2% (with a zero interest floor) is repaid semi-annually on June 20 and December 20. The principal is repaid on a semi-annual basis based on a pre-determined sculptured repayment schedule.
Country updates
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May 22, 2019
Spanish government approves construction of 111 MW wind project
The Spanish government of Navarre region has given its approval for the construction of 111 MW Cavar wind farms. Cavar Complex is composed of four wind parks in the Cadreita and Valtieera municipal a...
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May 21, 2019
Enzen commissions Bombora Wave Power for the 4 MW wave energy project development in Lanzarote
Enzen has selected Bombora Wave Power to supply the grid-connected wave farm to be located in the Atlantic Ocean on the north side of Lanzarote, Spain. The 4 MW wind energy farm...
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May 20, 2019
Elecnor to provide EPC services on 231 MW wind portfolio in Spain
Elecnor has been awarded a EUR47 million (US$52.4 million) contract for the construction of six wind farms in Zaragoza. The wind farms, developed by Forestalia, will have a total installed capacity of...
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May 15, 2019
EDPR to fully divest 997 MW wind portfolio in Europe
EDP Renewables (EDPR), a global leader in the renewable energy sector and one of the largest wind energy producers in the world, signed a Sale and Purchase Agreement with institutional investors...
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May 13, 2019
JinkoPower, Ardian, White Summit to build 182.5 MW solar plant in Spain
Jinko Power, Ardian Infrastructure and White Summit Capital AG have reached an agreement to jointly construct and operate “La Isla”, a 182.5 MW solar photovoltaic (PV) plant near Seville,...
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