Macquarie Asset Management, acting on behalf of managed funds, has secured €97 million in debt financing for Greenalia Power Spain (Greenalia), a renewable energy developer with projects in Spain, Portugal, and the United States.
Greenalia, which owns and operates a diverse portfolio of approximately 15.5 gigawatts (GW), is focused on advancing renewable energy assets across a variety of technologies, including onshore wind, offshore wind, solar, biomass, storage, and hydrogen. The funding will support the company's Spanish renewables platform, which includes onshore wind, biomass, and solar photovoltaic (PV) projects in areas known for favorable renewable energy resources.
The bespoke financing package aims to enhance Greenalia's operational capabilities, fund construction across key sites, and accelerate the development of its broader project pipeline. Manuel García, Chief Executive of Greenalia, said, “The funds obtained with this financing will be used to accelerate and consolidate the deployment of the business plan in Spain which, together with our projects in operation and the projects currently under construction in the United States, will allow us to reach 1GW of projects in operation in 2026.”
Gurjit Orjela, Senior Vice President at Macquarie Asset Management, highlighted the company's position, stating, “We believe Greenalia is well positioned for future success, having established itself as a renewables independent power producer in Spain with a diverse portfolio of green technologies and strong management team.”
This deal aligns with Spain's ongoing efforts to strengthen its energy security and decarbonize its energy sector. The country aims to have renewable electricity comprise 81% of its power mix by 2030, up from the current 56%, as outlined in its updated National Energy and Climate Plan (NECP).
Macquarie Asset Management's Credit platform, which has approximately €205 billion in assets under management, also oversees about €35 billion in private credit assets. Legal advisors for the transaction included Clifford Chance Spain for Macquarie Asset Management and Cuatrecasas and Astris Finance for Greenalia.
