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Albioma secures EUR-110m solar refinancing in Indian Ocean

Author: Takver. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

May 16 (Renewables Now) - French renewable energy producer Albioma SA (EPA:ABIO) said on Tuesday it has closed a nearly EUR-110-million (USD 130.2m) refinancing of its solar power business in the Indian Ocean.

Albioma noted that the move involved establishing credit facilities to finance its new projects in the same area for the next 18 months.

The transaction allows the group to optimise the financing of its existing projects, extend the maturity of current debt and support schemes won under recent invitations to tender initiated by the French Energy Regulatory Commission or under feed-in tariffs (FiTs), it said.

Caisse d’Epargne CEPAC acted as the lead arranger for the transaction, while Natixis served as the only hedging bank.

(EUR 1.0 = USD 1.184)

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