Alter5 Executes a EUR 68 Million Bond Placement for the Construction of a 141 MW Solar PV Portfolio in Spain
By Alter5 . Published 19 Sep, 2023
The transaction, one of the largest renewable energy financings in the Spanish market in 2023, enables Alter5 to achieve a volume of EUR 100 million in equity and debt investments.
Madrid and Luxembourg, September 2023 – Alter5, a capital markets platform for renewable energy assets, announces the closing of a EUR 68 million bond placement for the construction of a 141 MW Solar PV portfolio in Castilla La Mancha, Spain owned by Planea Energía, a leading renewable energy developer in the region.
The financing was structured through a bond issued by European Sustainable Investments, a Luxembourg-based vehicle that partners with Alter5 to provide renewable energy developers with direct access to capital markets. The bond was fully subscribed by Infranity, a leading asset management company specializing in sustainable infrastructure investments.
The debt quantum was sized according to a fully merchant revenue scheme, enabling the sponsor to maximize leverage at competitive pricing.
Bestinver Investment Securities served as the sole financial advisor. Watson Farley & Williams and Deloitte acted as legal counsel for the investor and the borrower respectively. Altermia acted as the technical advisor while GSK Stockmann advised on Luxembourg law matters.
This investment aligns with Alter5’s mission to accelerate the green energy transition in the European Union and reinforces Alter5’s commitment to connecting institutional investors, including pension funds, insurance companies, and asset managers, with the best investments in the renewable energy sector.
With this latest transaction, the Spanish/Luxembourg platform, which began operating in 2021, has reached a volume of EUR 100 million in financing and trading operations in the renewable sector in less than 18 months.
Alter5 is a capital markets platform that enables institutional investors to access and invest in debt and equity opportunities in renewable energy assets.
Combining a digital platform that accelerates the traditional project finance model at each stage – project identification and analysis, structuring, and investment execution – with a Luxembourg-based bond issuance platform that enables efficient access to capital markets, Alter5 connects institutional investors (pension funds, insurance companies, asset managers, and family offices) with leading developers of green energy transition assets, including solar PV plants, wind farms, and battery energy storage systems (BESS).
Currently, through Alter5 Investment Portal, institutional investors can gain access to a diverse range of debt and equity investment opportunities in Spain and Italy totaling 300 million.
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