Ence financing of 50 MW solar project receives the Standard & Poor’s Green Assessment

In the end of 2018 Ence Energía y Celulosa has closed financing for the purchase of 90% of the Termollano solar plant in Puertollano, for an amount of EUR110 million (US$113 million). The operation has been structured under the Project Finance modality without recourse and for 13 years. The Bank of Santander, BNP Paribas, Bankia and Bankinter participated in the financing operation.

The financing granted to Ence has been recognized for its sustainability through the Green Evaluation or Green Evaluation published by Standard & Poor’s (S & P), which gives it a grade of E1 / 85, located in the highest band of these ratings.

S & P’s Green Evaluation offers a classification regarding the ecological impact of the instruments used to finance projects. It is not, therefore, a credit rating, but measures the environmental effects of projects financed through different instruments, such as green bonds, bank credit portfolios or capital structures.

The final score obtained by Ence is the result of a high score in relation to Mitigation of Climate Change, combined with scores above the average in Governance and Transparency. The overall result supposes, in short, a recognition of the company’s environmental contribution through this operation.

This is the third green financing achieved by the company, this time of 109.6 million euros in three tranches of bank loans, destined to the acquisition of 90% of this 50 megawatt (MW) solar thermal plant in Puertollano. The remaining participation, of 10%, will remain in the hands of IDAE (Institute for the Diversification and Saving of Energy).