Alantra and Solarig Obtain €213 million Financing for Initial Phase of 1.9 GW Photovoltaic Platform

In its inaugural year, Alantra and Solarig have achieved significant milestones with their 1.9 GW photovoltaic investment platform:

Alantra Solar, a collaborative effort between Alantra and Solarig, has secured a financing agreement with Rabobank, serving as Bookrunner and Coordinator for a consortium of banks including ABN AMRO, BNP Paribas, Commerzbank, and Coöperatieve Rabobank. This agreement provides €213 million in debt financing for the construction of seven solar plants, totaling 306 MWp. Additionally, Solarig has completed the construction and grid connection of the first solar plant within the 16 MW vehicle, situated in Zafra, Spain, financed separately by Caja Rural de Soria.

As one of Europe’s leading solar development platforms, the investment entity N-Sun Energy, supported by Swiss infrastructure asset manager Reichmuth Infrastructure and French Asset manager Amundi Energy Transition, is set to acquire a portfolio of 50 photovoltaic plants across Italy and Spain. These plants, developed by Solarig, will include a significant percentage of battery hybridization. The acquisition process is well underway, with 597 MWp already acquired from Solarig. The platform anticipates investing €1.7 billion, with €700 million in equity from existing investment vehicles and subsequent funds, and €1 billion in debt. The goal is to have all plants ready for construction by the end of 2025.

N-Sun Energy aims to become a diversified, multi-technology international platform, generating 2,700 GWh annually, equivalent to the yearly consumption of over 800,000 households, and generating more than €180 million in annual revenues by 2026.

Javier Mellado, Managing Partner of Alantra Solar, expressed satisfaction with the progress, highlighting the securing of financing and the operational success of the first solar plant. José Miguel Moraga, CEO of Solarig, emphasized the support received from banks and the importance of driving the energy transition in key markets. Marc Schmitz, Managing Director of Renewable Energy and Infrastructure Project Finance Europe at Rabobank, commended the cooperation between Alantra and Solarig and reaffirmed Rabobank’s commitment to leading the energy transition.

Overall, the partnership between Alantra and Solarig is poised to play a pivotal role in advancing the energy transition while offering investors robust solar energy opportunities.