May 2021 – Astris Finance is pleased to announce the successful refinancing of a 342 MW portfolio of 10 Spanish wind farms owned by Mirova, Engie and Forestalia.

The transaction consisted in the refinancing of the bridge loan provided by commercial banks to fund the construction of the wind projects. Once the projects reached COD, the Sponsors decided to refinance the bridge loan with a long-term, non-recourse senior debt financing, provided by 5 commercial institutions. The wind farms have a 10-year PPA with Engie for the majority of their production.

Abanca Corporación Bancaria, Banco Sabadell, Bankinter, Société Générale sucursal en España and Unicredit Bank provided the c. 211 m€ financing facilities, comprising a senior debt term facility, a senior debt reserve facility and the required decommissioning and PPA L/Cs.

Astris Finance acted as exclusive financial advisor to Mirova, Engie and Forestalia.