Green Venture Secures €55.1 Million Financing for 104.7 MWp Solar Portfolio in Portugal

Green Venture, in collaboration with Kommunalkredit and with advisory support from Marsh Risk & Capital (MR&K), has successfully closed a €55.1 million financing package for the construction and operation of a 104.7 MWp solar PV portfolio across Portugal. The portfolio comprises 22 Special Purpose Vehicles (SPVs) located throughout the country.

The financing structure includes a €40.1 million Senior Bridge Facility and a €15.0 million Subordinated Term Loan Facility, both provided by Kommunalkredit as Sole Mandated Lead Arranger and Lender.

Bruno Sousa, Investment Officer at Green Venture, highlighted the complexity of the transaction, stating that flexibility, resilience, and collaboration from all parties were key to its successful completion. He expressed gratitude to advisors and teams involved for their professionalism and constructive approach, which were critical in closing the deal.

Halyna Yakovenko, Senior Transactor at Kommunalkredit, noted that the transaction strengthens their presence in the Iberian renewable energy market and enhances Portugal’s clean energy infrastructure. She emphasized the importance of tailored financing structures and prudent risk mitigation in making renewable energy projects bankable.

Fernando García, Principal at MR&K, added that advising on the complex and granular financing structure was a privilege and praised the collaboration between Green Venture and Kommunalkredit, which enabled the development of innovative financial solutions for the solar sector.

The principal advisors for the transaction included PLMJ for borrower legal matters, Morais Leitão for lender legal matters, and OCA Global for lender technical advisory.

This milestone marks a significant step for renewable energy deployment in Portugal and reinforces the importance of collaborative efforts in facilitating sustainable infrastructure projects.