Macquarie Infrastructure Debt Investment Solutions (“MIDIS”), on behalf of its European and Asian insurance company clients, today announced a new transaction in the Spanish renewables sector, with a 38 M€ debt investment in a portfolio of solar farms.
The portfolio is owned and managed by Q-Energy, a leading European investor and asset manager in the renewable energy sector. Comprised of six operational PV plants in south-eastern Spain, the portfolio totals 13.6MWp in installed capacity. MIDIS refinanced the portfolio’s existing debt with 21-year, amortising, floating rate, senior secured bonds, and structured an orphan interest rate swap facility to support the transaction, provided by Goldman Sachs International.
MIDIS and Q-Energy completed the transaction on a bilateral basis, with Banco Sabadell and Santander acting as arrangers. Goldman Sachs International provided the interest rate hedging to the issuer.
Since 2012, MIDIS has invested 2.100 M€ of infrastructure debt across more than 30 renewable energy projects with total installed capacity of approximately 6.8GW.