Refinancing achieved for 300-MW solar farm in Spain

January 21 (Renewables Now) – A particular goal firm that owns the 300-MW Talasol photo voltaic farm in Spain has closed the refinancing to switch the unique EUR-121-million mortgage, its main shareholder introduced.

Talasol Photo voltaic SL, an entity 51% owned by Israeli renewables developer Ellomay Capital Ltd (TASE:ELLO), secured new financing totalling EUR 175 million (USD 198.7m) in two tranches from a bunch of European institutional lenders.

The photo voltaic farm proprietor was granted one time period mortgage within the quantity of EUR 155 million for 22 and a half years, and one other time period mortgage of EUR 20 million for 21 years, Ellomay mentioned. The mounted annual rate of interest is ready at a weighted common of round 3%.

The weighted common lifetime of Talasol’s financing is now prolonged to round 11 and a half years from 5 and a half years below earlier financing phrases, as agreed with the banks again in December.

Talasol Photo voltaic SL will use the recent funds to repay the unique venture finance and meet different wants together with paying its shareholders “an anticipated particular dividend”, in response to Ellomay.

(EUR 1.0 = USD 1.135)

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