AES Solar Energy Ltd (AES) Secures Funding For 5 Spanish Solar Projects

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09:52:30 am on January 12, 2009

AES Solar Energy Ltd announced that it has secured funding for 5 of its planned solar PV projects in Spain. According to the company, which is a joint venture between AES Corporation and Riverstone Holdings LLC, one of its subsidiaries obtained €70 million loan for the projects.

From, here are more details about the terms of the loan:

he loan was provided by UniCredit Mediocredito Centrale of Italy and Rabobank of the Netherlands. The financing is at an initial margin of 255 bps to EURIBOR per year and it is amortised based on an underlying tenor of 18 years, AES Solar said.
The joint venture said that the PV solar installations covered by the debt facility are part of its eight operating power plants in Spain. The projects qualify for a favorable regulated tariff under the Spanish Special Regime for renewable projects (Royal Decree 661/2007).

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