Encavis AG has inked two non-recourse project refinancing agreements for a total amount of €203 million for its operating solar plants Talayuela and La Cabrera in Spain. Both refinancing transactions have been structured, arranged, and managed by ENCAVIS’ inhouse Project Finance team.
Furthermore, the Talayuela plant, located in the region of Extremadura, has a generation capacity of 300 MW, meanwhile the La Cabrera plant, located in the region of Andalusia, has a capacity of 200 MW. Both projects are operational from the end of 2020/beginning of 2021. The energy prices for the majority of the electricity production for both projects are fixed by long-term Power Purchase Agreements (PPAs), both for a term of initially ten years.
The refinancing is provided by a club of four international banks: ABN AMRO Bank N.V. (NL), Coöperatieve Rabobank U.A. (NL), Bankinter S.A. (ES), as well as NatWest Bank Europe GmbH (GER/UK). While ABN AMRO, Rabobank and Bankinter are financing partners of ENCAVIS for years, NatWest provides project financing to ENCAVIS for the first time.
