October 25 (Renewables Now) - Q-Energy, the renewables-oriented fund of Madrid-based asset manager Qualitas Equity Partners, has issued a EUR-130-million bond (USD 144.4m) to refinance 26 MW of solar photovoltaic (PV) farms in Spain.
The private placement issuance was subscribed by institutional investors managed by BlackRock Inc (NYSE:BLK), and the bonds are traded on the Quotation Board of the Frankfurt Stock Exchange.
Spain’s Banco Santander SA (BME:SAN) and Banco de Sabadell SA (BME:SAB) acted as arrangers for the issue, the lenders’ advisor Watson Farley & Williams (WFW) said Thursday.
Qualitas Equity has invested over EUR 4 billion in debt and equity in the global solar power sector through its Q-Energy specialist fund. It has also developed over 2 GW of PV and concentrated solar power (CSP) assets worldwide, according to WFW.
Proceeds from Q-Energy’s recent issuance will refinance nine PV farms in the home country.
(EUR 1.0 = USD 1.11)