Saeta Yield Bolsters Iberian Expansion with €340 Million Refinancing, Unlocking Solar Additions and Hybrid Renewable Projects

Saeta Yield, a Masdar company, has successfully closed a €340 million refinancing of its clean energy assets in Portugal and secured a €200 million revolving credit facility (RCF) in Spain, strengthening its financial position to support portfolio expansion and long-term growth.

The refinancing comprises €340 million in senior loan facilities with maturity extending to 2041. The transaction was heavily oversubscribed, reflecting strong investor confidence in Saeta Yield’s asset base, operational capabilities, and growth strategy. ING acted as financial adviser, with participating lenders including Bank of America, BBVA, Crédit Agricole CIB, DWS, and Millennium Investment Banking.

As part of its growth plans, Saeta Yield is expanding its Portugal portfolio from 124 MW of wind capacity to 144 MW, with the potential addition of 110 MW of solar capacity. This would mark the company’s first repowering and hybridisation project, serving as a blueprint for future asset upgrades across its renewable energy portfolio.

Separately, Saeta Yield has also signed a €200 million RCF, with an initial three-year maturity, extendable to five years, providing additional financial flexibility to support future investments. The facility is backed by a syndicate of banks including Santander CIB, BBVA, Crédit Agricole CIB, Commercial Bank of Dubai, ING, Intesa Sanpaolo, SMBC, and Société Générale.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said the strong market participation underscores confidence in Saeta Yield’s strategy and Masdar’s commitment to scaling high-quality renewable energy projects across Europe.

Álvaro Pérez de Lema de la Mata, Managing Director of Saeta Yield, said the refinancing and new credit facility provide the financial tools required to accelerate repowering and hybridisation projects while advancing the company’s renewable energy pipeline.

Masdar continues to expand its footprint in the Iberian Peninsula and across Europe, targeting a global renewable energy portfolio of 100 GW by 2030. Earlier this year, Saeta Yield also closed an investment agreement for a 234 MW solar project in Valencia, with a potential 259 MW battery energy storage system (BESS) hybridisation.