Spain capital

The Spanish Capital Energy obtains a corporate loan of 140 million euros

July 12 (Renewables Now) — Spanish renewable energy retailer and project developer Capital Energy announced on Friday that it has reached an agreement for a 140 million euro ($165.9 million) business loan with the Madrid-based company specialist credit investment advisory firm Incus Capital Advisors SA and the Ontario Teachers’ Pension Plan (OTPP) of Canada.

Capital Energy said the four years of new funding will allow it to continue to grow all business areas as it strives to become an integrated 100% renewable energy company.

Earlier this year, Capital Energy considered an initial public offering (IPO), but then scrapped the plan amid weaker-than-expected valuations, just as several of its Spanish peers in the renewables sector began announcing their own listing aspirations.

The company turned to conventional sources of finance, entering into a project finance agreement with Banco de Sabadell SA (BME:SAB) to finance the construction of a wind farm and issuing a 50 million euro bond for another group of projects.

Capital Energy says its portfolio of wind and solar projects in the Iberian Peninsula is around 38 GW, of which 8.7 GW is backed by grid access permits.

(1.0 EUR = 1.185 USD)

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