London / Madrid, 20 January 2020
Macquarie Infrastructure Debt Investment Solutions (“MIDIS”) has continued to support the growth of Spain’s renewables sector, announcing the close of a €90 million debt investment in a portfolio of solar farms.
The 127 MW portfolio, owned by leading Spanish solar developer Grupo T-Solar, is comprised of 23 ground-mounted solar farms across Spain. MIDIS’ investment was made via 18-year, amortising, fixed-rate, senior secured bonds on behalf of its global infrastructure debt strategy. MIDIS was the single-largest lender in Grupo T-Solar’s €568 million portfolio refinancing and worked closely together with Deutsche Bank and Santander, Mandated Lead Arrangers and Global Coordinators of the issuance for the sponsor.
Tom van Rijsewijk, Managing Director, MIDIS, said; “We are delighted to be supporting Spain’s transition to a new energy mix – partnering with leading sponsors like Grupo T-Solar to provide institutional investors with attractive opportunities in sustainable infrastructure debt. A transaction of this size, with MIDIS as the largest participant, demonstrates continued investor confidence in the market against a backdrop of positive regulatory developments, and MIDIS’ strength in the Euro renewables market.”
Manuel Fernández Durán, Chief Financial Officer, Grupo T-Solar, said; “As we lead the development of new green infrastructure around the world, it is vital that we have strong and effective partners to support the execution of our growth strategy. Macquarie has been a constructive partner throughout this transaction, and we trust that this will be the beginning of a long and positive relationship between our two firms.”
Since 2012, MIDIS has invested €2.5 billion of infrastructure debt across more than 35 renewable energy projects with total installed capacity of approximately 12.8 GW.