Info
Info
News Article

BlackRock Real Assets Closes Spanish Solar Debt Investment

News

BlackRock Real Assets has closed a debt investment in an operational solar PV project in the south of Spain owned and operated by Solaria Energía y Medio Ambiente, S.A. ("Solaria"), an experienced international solar developer and operator.

This transaction brings a number of benefits for BlackRock's institutional clients, including stable, long-term cash flows at an attractive yield underpinned by a fully operational plant with a strong track record. The project also benefits from long-term fixed price operation and maintenance contracts and commercially-proven solar photovoltaics (PV) technology.

Solaria, who currently own, manage and operate PV plants in Spain, Italy, Uruguay, Greece and Brazil with a total generation capacity of more than 70 MW, also provide long-term operations and maintenance for the projects.

Jonathan Stevens, Head of European Infrastructure Debt at BlackRock, said: "We are delighted to have closed this debt investment with Solaria on behalf of our clients. This financing provided an opportunity to extend our investment in the Spanish Solar sector with an experienced partner and at an attractive price."

"The transaction also builds on a successful first half of 2017 for our Global Infrastructure Debt Platform, bringing total assets under management to $6.4bn[1]", Mr. Stevens added.

Arturo Díaz-Tejeiro, CEO at Solaria, said: "Working hand in hand on a debut issuance with such a rigorous investor as BlackRock was not just a challenge but also a great pleasure and privilege. The placement of the notes is a major milestone for Solaria. We have been able to restructure and extend the duration of a big part of our debt as well as improving company financials."

"Solaria can keep on pursuing its plans of increasing consistently the size of its generation perimeter", Mr. Díaz-Tejeiro added.

Greencoat Renewables Announces First Transaction In Nordic Market
TLT Advises Santander On 30MW Flagship Battery Storage Project
Going Green In Lancashire – Hundreds Of Houses Installed With Solar Panels In Ground-breaking Project
Low Carbon Develop UK’s Largest Community-owned Solar Park
Habitat Enerdy Enters Balancing Mechanism With Largest Battery
Power Roll Trials Solar PV To Power Up Himalayan Villages
TLT Advises Innova Energy On £30m Refinancing Of 57 MW Solar Portfolio
New Innovation Set To Change Renewable Energy Market
FIMER Powers UK Largest Rooftop Solar Project
Sharp Launches New 440W Half-cut Cell PV Panel
Sonnedix Named ESG Global Solar Power Generation Sector Leader By GRESB
Solar Power As Rental Offer Launched By Aggreko
Oakapple Renewable Energy Appoint Stuart Gentry To Head Business Development
Sunstore Solar Launches WattGrid, A New Range Of Turnkey Off-grid Power Systems
The Smarter E South America Postponed To October 18-20, 2021
UK'S Largest Battery Ready To Balance The Grid
Tandem PV Devices Feel The Heat
Analysis Of UK Commercial Roof Space Shows Solar PV Film Can Achieve Net Zero Without Greenfield Sites
FRV And Harmony Energy To Develop Second UK Utility Scale Battery Project
Ingenious Invests In Electric Vehicle Charging Firm
NextEnergy Capital Acquires Its First Asset In Portugal 17.4MWp Solar PV Project
SOLARWATT Links With Easy Roof To Provide Building-integrated PV For Better-looking Buildings And Smart EV Charging
UK Green Tech Company Myenergi To Double Workforce By 2021
Everoze Creates Skyray To Design And Engineer Great Solar PV Projects
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Smart Solar Magazine, the Smart Solar Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array
Live Event