Eolico

GREENALIA’s 5 WIND FARM PROYECT EOLO I MOC FINANCING AWARDED GREEN RATING

Greenalia Wind Power Eolo MOC S.L.U. has obtained “Green Certificate” rating for the 83.2 Million Euros financing of the 5 wind farms included in Eolo Project that the company is developing in Galicia and that will be in operation in 2020. Four of the wind farms are located in A Coruña province and one in Lugo.

This rating process has been handled during the last 8 weeks by Standard&Poor’s and finally obtained E1 rating which is the maximum rating being awarded.

This loan has been structure via Project Finance, and will be used for the 5 wind farms that the Group is developing in Galicia. In this deal, Sabadell Bank acts as agent and coordinator of the senior trench. The new facilities are part of the Eolo Project and will have an installed capacity of 74,22 MW.

Adding this rating award, Greenalia has been able to secure financing of 224 Million Euros thorough bonds and loans with green certificate in the past 24 months.

Regarding the green bonds, Greenalia has obtained 209 Million Euros in two deals. The first one being in July 2008, with a 125 Million Euros Project Finance destined wholly to the financing of the Curtis-Teixeiro Biomass Plant.

Furthermore, in relating to the green bonds, Greenalia already issued in November 2017 its first 5,8 bond, certified by Vigeo Eiris as a Green Bond, making the company the first PYME (Small and Medium Enterprise) to undertake an emission such as this one. From that moment on, the company has done it twice more: the July 2018 3.2 Million Euros one and in January this year the 25 Million Euros one also rated as Green by Standard&Poor’s (Green Note Program). The three bonds have been referenced in Luxembourg’s green bond market (IGX – Luxembourg Green Exchange) and has been used to finance ongoing projects.

You can find Standard&Poor’s rating evaluation in the following link:

https://www.spglobal.com/ratings/en/research/pdf-articles/190924-greenalia-wind-power-eolo-senior-and-22-million-greenalia-wind-power-eolo-project-loans