Capital Energy is all set to develop 1GW of onshore wind farms in Spain. For this, Copenhagen Infrastructure Partners’ Green Credit Fund 1 has agreed to fund the projects.
The duo has already signed a financing agreement for the same. These wind projects will be based throughout Spain.
It has been reported that the latest agreement is about a €70m holdco loan facility, which will be used to "fund development expenses and construction equity for the late-stage development portfolio."
According to the company, the fund will be used to accelerate the development and construction of the onshore wind assets.
CIP partner and co-head of CI Green Credit Fund 1 Nicholas Blach-Petersen commented, “CIP are delighted to be partnering with Capital Energy and contribute to the development and construction of a portfolio which will eventually provide clean energy to up to 350,000 households in Spain."
It has been informed that this is CI GCF I’s first investment.
“The financing has been structured to provide capital flexibility for the sponsor and facilitate value creation through development, construction and asset ownership whilst providing GCF 1 with an attractive investment with a strong credit profile," he was further quoted.
The projects are likely to be built and come into operation between 2023 and 2025.
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