May 8 (Renewables Now) - Atlantica Yield Plc (NASDAQ:AY) said it has secured green non-recourse project financing it expects to use to fund new investments in renewable assets.
The clean energy yieldco secured proceeds of around USD 143 million (EUR 132m) net of transaction costs and reserves through a subsidiary holding company of certain solar assets in Spain.
The financing agreement was closed with Dutch bank ING Groep NV (AMS:INGA) and Spain’s Banco Santander SA (BME:SAN), both of which acted as lenders, bookrunners and mandated lead arrangers. Additionally, ING acted as the global coordinator and green coordinator, Atlantica said.
The financing was issued in compliance with 2018 Green Loan Principles.
Atlantica Yield had 1.5 GW of renewable energy assets in operation at the end of March 2020. It also owns natural gas power capacity, water infrastructure and transmission capacity.
(USD 1.0 = EUR 0.923)