Greenalia's loans for 74 MW of wind projects gets S&P's top score

Wind turbines in Spain. Author: petter palander. License: Creative Commons, Attribution 2.0 Generic

October 4 (Renewables Now) - Greenalia SA (BME:GRN) has received an S&P Global Ratings Green Evaluation score of E1/83 for the EUR-61.2-million (USD 67.2m) senior project finance loan and a EUR-22-million mezzanine tranche it obtained to finance the Eolo wind project in native Spain.

The E1 Green Evaluation score, the high-end of S&P’s E1-E4 scale, was a result of the combined scores of 85 for mitigation, 90 for governance and 73 for transparency, leading to the final score of 83, the US rating agency said Thursday.

The Eolo project consists of five onshore wind farms with a combined capacity of 74.22 MW. All five project sites are located in the region of Galicia in the north-west of Spain.

When it announced the loan agreements this summer, Greenalia said that it had already initiated construction works on two projects -- the 24-MW Minon park in the province of A Coruna and the 22.5-MW Ourol in Lugo. The remaining three are the 7-MW Alto de Croa I, the 10.4-MW Alto de Croa II and the 10.4-MW Monte Tourado, all in A Coruna.

The wind farms are expected to commence operations by August 2020.

(EUR 1.0 = USD 1.10)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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