Ignis, a player in the renewable energy sector, has successfully achieved a financial closing totaling €335 million for its ambitious solar project developments in Spain. This significant loan infusion is poised to propel Ignis towards realizing its vision of harnessing up to 500MW of solar power capacity. It will play a pivotal role in covering a substantial portion of the capital required for the design, construction, promotion, and operation of these solar assets.
The financing transaction was masterfully orchestrated with Deutsche Bank taking the helm as the sole underwriter. Notably, it also witnessed the active participation of esteemed financial institutions, including Rabobank, ABN Amro, and Triodos Bank, reaffirming the confidence of the financial sector in Ignis's renewable energy endeavors.
Ignis received legal counsel from Cuatrecasas, while Clifford Chance provided legal guidance to the consortium of financial institutions involved in this pivotal transaction.
These forthcoming renewable projects, scheduled for initiation between 2023 and 2024, have already secured the essential environmental permits for their construction. Beyond their eco-friendly impact, these solar plants promise to be catalysts for socio-economic development in their respective regions. By creating fresh employment opportunities in various municipalities, Ignis is set to engage qualified personnel in both the construction and maintenance phases of these solar facilities.
It's worth noting that Ignis will not merely develop these solar plants but will also assume full responsibility for their operation and maintenance. This move underscores Ignis's commitment to building a sustainable energy portfolio, with an impressive 5GW of managed operating assets, encompassing both owned and third-party facilities.
In a further display of its dedication to advancing renewable energy in Spain, Ignis has recently inked several power purchase agreements tied to the commissioning of new solar power plants. These agreements solidify Ignis's position as a trailblazer in Spain's transition to a greener and more sustainable energy future.
