EDP Renováveis executes project finance for 125 MW in Spain
Madrid, March 5th 2012: EDP Renováveis, S.A. (“EDPR”) executed a project finance structure agreement with a consortium of five European banks for 125 MW in Spain.
The long-term contracted debt facility (17 years) amounts to €177 million and the transaction financial close is expected to occur until the end of the first quarter of 2012.
The 125 MW comprises three wind farms in the Spanish region of Cataluña with 25 MW installed in 2009 and 50 MW installed in the 2011, being the remaining 50 MW currently under construction and to be installed by the end of 2012. All the capacity has a longterm remuneration scheme in place according with the Royal Decree 661/2007.
EDPR continues to execute top quality projects which are enabling the company to diversify its funding sources and access to local project financing at a competitive cost.