Spain’s X-Elio, a developer of renewable energy projects, has issued project bonds worth €92.5 million in order to refinance five solar plants in Spain with a total combined capacity of 33 MW.
The non-recourse financing scheme is aimed at institutional investors, and have been listed on the Frankfurt Stock Exchange. Investors are offered a 3.84% coupon due in June 2040, and so far a range of qualified institutional investors have already shown an interest, X-Elio said.
“The placement of the bonds shows the confidence investors have in this type of asset, and allows X-Elio to diversify its sources of long-term financing for future PV energy projects,” said X-Elio CEO Jorge Barredo.
Popular content
The funds raised will help shore-up the long-term future of the five Spanish solar farms, which currently generate enough electricity to meet the annual power needs of 13,000 local households.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.