September 11 (Solar) – French independent solar power producer Reden Solar said today it has successfully completed a EUR-100.5-million (USD 117m) refinancing of its Portuguese and Spanish assets.
More specifically, Natixis SA – Sucursal en Espana has arranged a 14-year non-recourse financing that restructures 13 historic loans contracted with five banks. The transaction concerns about 50 operating photovoltaic (PV) power plants in Portugal and Spain.
“This refinancing not only greatly simplifies the debt structure of our assets, but also improves our economic conditions, and allows us to generate a significant cash surplus,” group president Thierry Carcel said, adding that this, in turn, will enable further investments in the Iberian Peninsula, Latin America and France.
(EUR 1.0 = USD 1.163)