Octopus adds 100 MW of solar assets to big refinancing deal
Solar system. Author: Mike Weber. License: Creative Commons, Attribution 2.0 Generic
UK renewables investor Octopus Investments has added a further 100 MW of solar assets to a big refinancing deal completed earlier this year.
The business, part of the Octopus Group, closed GBP 484 million (USD 636m/EUR550m) refinancing for UK solar assets, described as Europe's largest photovoltaic (PV) refinancing, half a year ago. It said today it has made this deal bigger by bringing more assets into the portfolio, which now totals 622 MW.
The size of the facility has been increased by GBP 80 million to GBP 564 million.
The additional financing comes from banks that were already part of the syndicate. It is currently made up of nine lenders -- Banca IMI, Barclays, BNP Paribas, CaixaBank, The Royal Bank of Scotland (RBS), SMBC, AIB, Sabadell and Santander Global Corporate Banking.