Macquarie’s infrastructure debt platform has expanded its renewables footprint in Spain with a €90m investment in Grupo T-Solar’s €568m solar portfolio refinancing.
Macquarie Infrastructure Debt Investment Solutions (MIDIS) said it is the single-largest lender in the refinancing of the 127MW portfolio of 23 solar farms across Spain.
Deutsche Bank and Banco Santander acted as mandated lead arrangers and global coordinators of the issuance.
Tom van Rijsewijk, managing director, Macquarie Infrastructure Debt Investment Solutions, said: “We are delighted to be supporting Spain’s transition to a new energy mix – partnering with leading sponsors like Grupo T-Solar to provide institutional investors with attractive opportunities in sustainable infrastructure debt.
“A transaction of this size, with MIDIS as the largest participant, demonstrates continued investor confidence in the market against a backdrop of positive regulatory developments, and MIDIS’ strength in the Euro renewables market.”
Manuel Fernández Durán, CFO, Grupo T-Solar, said: “As we lead the development of new green infrastructure around the world, it is vital that we have strong and effective partners to support the execution of our growth strategy.
“Macquarie has been a constructive partner throughout this transaction, and we trust that this will be the beginning of a long and positive relationship between our two firms.”
MIDIS made its first Spanish solar allocation in June 2018.
Since 2012, MIDIS has invested €2.5bn of infrastructure debt across more than 35 renewable energy projects with total installed capacity of approximately 12.8GW.