September 2022 – Astris Finance Congratulates its Client Fotowatio Renewable Ventures (FRV) on the Successful Greenfield Financing of a 123MW Solar Portfolio in Spain

September 2022 – We are pleased to announce the closing of the Carmonita Norte Cluster financing in which Astris advised FRV, a leading Spanish developer with a significant footprint in the global renewable space, in connection with the financing of a 123MW solar portfolio composed of 3 green field projects located in Spain.

 Once the plants are operational, project revenues will benefit from a long-term PPA. This portfolio is part of a larger set of Solar PV ground-mounted assets, currently at financing stage.

 This new financing brings several important benefits for FRV in terms of structure, leverage, and stability of cash flow to shareholders. The transaction was arranged and financed by ING, MUFG and Santander Corporate & Investment Banking which provided the +80M€ senior financing facilities.

 Astris Finance acted as exclusive financial advisor to FRV.