Northland Power raises €690mn in non-recourse debt refinancing for onshore wind and solar assets in Spain
The senior debt package, provided by CaixaBank, will help the Canada-based company refinance and restructure the debt associated with a 551 MW portfolio of projects spread across Spain. The projects were acquired from Helia Renovables for an enterprise value of $1.27bn.
Iberdrola raises $7.2bn through debt and green bonds, YTD 2022
The company has raised the capital through loans from a range of lenders, including multilateral financial institutions such as the European Investment Bank and export credit agencies such as Instituto de Crédito Oficial, European Export Credit Agency, and EKF.
TenneT issues €3bn green bond for the development of transmission projects in Netherlands, Germany
ABN AMRO, Deutsche Bank, HSBC, ING, Rabobank and SMBC acted as joint-active bookrunners for the issuance. The proceeds will be used to invest in green transmission projects in the Netherlands and Germany.
Doral Renewables secures up to ~$1.1bn of new capital commitments to progress its 10 GWac renewables pipeline
U.S.-based Doral Renewables, the renewable energy development arm of Israel-based Doral Group, has issued up to $500mn of convertible notes to Apollo Global Management and Migdal Insurance.
ReNew Power secures $1bn loan for 1.3 GW battery-enabled renewable energy project in India
The company secured the loan from a consortium of 12 international lenders, led by Rabobank, marking the largest single project-focussed loan based on external commercial borrowings (ECB), in India’s renewable energy sector.
Fred. Olsen Renewables raised $485mn to finance onshore wind farms
The Norway-based project developer has closed the financing for three existing wind farms in Norway and Sweden, as well as future initiatives in the UK and Sweden. The package is structured as an energy investment fund jointly owned by KLP, MEAG Munich ERGO Asset Management, and Keppel.
AIP finances 139 MW portfolio of fully-merchant onshore wind projects
The Danish investment firm will execute the transaction through a flexible financing instrument that can accommodate projects of all revenue streams. The renewable portfolio that secured the financing comprises 4 wind farms developed by Elecnor Group.
Innergex refinances non-recourse debt of Chilean renewables portfolio through $803 million transaction
The Canada-listed company has issued $710mn of green bonds as part of a private placement, and secured a $93.1mn credit facility. Innergex stated that a group of global institutional investors participated in the transaction.
SSE issued $664mn green bond to fund SSE Renewables projects
The bond carries a tenor of 7 years and a coupon rate of 2.875%, with maturity date set as August 1, 2029. The issuance marks SSE’s fifth green bond in six years, bringing its total outstanding green bonds to more than $2.55 billion.
Iberdrola took $561mn loan from EIB to develop 1.8GW in Spain
The loan by the EIB will be deployed towards the construction of solar PV and onshore wind projects primarily in rural areas, including Castilla y León and Extremadura. These regions are termed as ‘Cohesion regions’ by the EU, which have been demarcated for economic improvement through disbursement for funds.