Velto Renewables and CaixaBank CIB successfully complete the financing of an operating solar PV portfolio in Spain

Velto Renewables and CaixaBank CIB (Bookrunner and Green Agent of the transaction) have successfully completed the financing of a portfolio of operating solar PV projects in Spain under the RECORE framework (RD 413/2014), with a total installed capacity of 98 MWp. The total amount stands at EUR 366 million, with a tenor of 15 years.

The transaction will adapt the existing financing between both parties to a structure better aligned with the current regulatory framework and Velto’s management model, establishing a more flexible foundation for the long-term management of the assets.

The deal involved Kenta Capital as financial and derivatives advisor; Watson Farley & Williams as legal advisor to Velto Renewables; and Garrigues as legal advisor to CaixaBank.