June 2021 – Astris congratulates its client Celeo on the successful closing of the Aries Solar Termoelectrica (ASTE) refinancing transaction.

Astris Finance is pleased to announce the closing by Celeo of the refinancing of two brownfield concentrated solar power plants (“CSP”) with a total combined capacity of 99.8MW in Spain. The plants have been operational for over 8 years. Celeo (owned by Spanish contractor Elecnor and Dutch pension fund APG) is a fully integrated investment and asset management platform focused on solar photovoltaic (201 MW), CSP plants (150 MW) and transmission lines (5,776 km) in three core regions (Spain, Brazil and Chile).

The transaction included the refinancing of the two CSP plants for a total senior debt amount of circa €350m in two term loan facilities: MEAG provided the institutional tranche and Banco Santander, BBVA, CACIB, ING and Bankinter acting as Mandated Lead Arrangers provided the commercial bank tranche.

Astris Finance and Banco Santander acted jointly as financial advisors to Celeo.