Project Finance Brief: Enlight Secures $310 Million for Hybrid Renewable Project
European Energy secures financing for renewable and storage project portfolio
Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights
Enlight Renewable Energy, a developer of renewable energy projects, has secured around $310 million for the hybridization of the Gecama Project, located in Spain. The funding was led by the MEAG Infrastructure Debt Transactions team, which also acted as the sole arranger in its capacity as portfolio manager of certain funds and accounts, along with additional institutional co-investors. The funding comprises two tranches, both with a fixed interest rate of ~5.1%, and will be fully amortized by 2045 and 2046, respectively.
