en.Wedoany.com Reported - Velto Renewables has completed the refinancing of a 218 megawatt-peak (MWp) solar photovoltaic portfolio in Spain, with a total amount exceeding €800 million ($912.6 million). The transaction involves 76 operational solar plants, all operating under Spain's regulated Recore remuneration scheme. Velto stated that the refinancing aims to strengthen the portfolio's long-term capital structure, enhance financial flexibility, simplify the group's corporate structure, and support asset operation and management. The portfolio was acquired in 2020.
The syndicate involved in this refinancing includes Credit Agricole CIB, Export Development Canada (EDC), BBVA, BNP Paribas, Abanca, ING, Deutsche Bank, and CaixaBank. Kenta Capital acted as financial and hedging coordinator. Founded in 2020 and backed by La Caisse, Velto has over 600 MW of operational solar capacity in Spain and France, and is developing more than 1 GW of projects in the Iberian Peninsula.
