News Article

Macquarie Closes €38 Million Spanish Solar Infrastructure Debt Investment


Macquarie Infrastructure Debt Investment Solutions (“MIDIS”), on behalf of its European and Asian insurance company clients, today announced a new transaction in the Spanish renewables sector, with a €38 million debt investment in a portfolio of solar farms.

The portfolio is owned and managed by Q-Energy, a leading European investor and asset manager in the renewable energy sector. Comprised of six operational PV plants in south-eastern Spain, the portfolio totals 13.6MWp in installed capacity. MIDIS refinanced the portfolio's existing debt with 21-year, amortising, floating rate, senior secured bonds, and structured an orphan interest rate swap facility to support the transaction, provided by Goldman Sachs International.

MIDIS continues to explore opportunities in the Spanish renewables market, seeking to match long-dated liabilities with investments that generate stable, long-term cash flows. In the last twelve months, MIDIS has deployed over €150 million into the Spanish solar sector to help meet the evolving demand through a combination of separately managed accounts and its Macquarie Global Infrastructure Debt Fund strategy.

Tom van Rijsewijk, Managing Director, MIDIS, said: “Significant capital investment is required as Spain pursues its ambitious target to generate 100 per cent of its electricity from renewable sources by 2050. We're helping to tackle this challenge by matching institutional investor demand for predictable, long-term investments with a growing pipeline of Spanish solar projects that require bespoke and flexible debt solutions. We worked closely with the Q-Energy team to structure and deliver this transaction and as we continue to provide more financing to the sector, we look forward to building on this and other long-term partnerships with high-quality sponsors.”

Daniel Parejo, Partner and Head of Structure Finance, Q-Energy, said: “Q-Energy is proud to be the leading debt issuer in the European solar project bond market. Our team will reach end of 2020 with ten project bonds and c.€1.5 billion issued since 2016, through partnerships with local and international debt investors. Q-Energy is delighted to have built such a strong relationship with Macquarie, with this being the second project bond in which we have successfully worked together.”

MIDIS and Q-Energy completed the transaction on a bilateral basis, with Banco Sabadell and Santander acting as arrangers. Goldman Sachs International provided the interest rate hedging to the issuer.

Since 2012, MIDIS has invested €2.1 billion of infrastructure debt across more than 30 renewable energy projects with total installed capacity of approximately 6.8GW.

Tigo’s Rapid Shutdown Solution: Over A Million Units Shipped
Solar Module Generates 326 W Per Square Metre
ABB Installs World’s First 500 KV Digital Substation In South America
Rugged Stäubli Connectors Assist In Success Of Antarctic Solar Power Project
Zenobe Energy Partners With United Utilities To Bring Largest Battery To UK Water Industry
Cornwall Insight Ireland: RESS Will See Projects Jostle For Limited Capacity
SolarEdge Intensifying Activity In The Japanese Market With Receipt Of JET Certification
University Of Queensland Sets QD Solar Record
SMA Holds More Than 1,500 Patents - Protection Of Intellectual Property
JenaBatteries And BASF Cooperate In The Development Of Innovative Power Storage Technology
SolarEdge To Supply Enfindus With Inverters For 1GW Of European Solar Projects
Energy Experts Now And The Meeco Group Cooperation In Development Of Clean Energy Systems In The Dominican Republic
Sub-Saharan African Countries Saw Record Spike In Renewables Investments In 2018
Simple, Solar-powered Water Desalination
REC Group Kicks Off Production Of Its Alpha 72 Series Solar Module
Juwi And Hellenic Petroleum Group Sign Purchase Agreement For Photovoltaic Park In Greece
ISRA VISION Forms A Strategic Partnership With Atlas Copco
BayWa R.e. Delivers The First Operational Solar Park Won In Malaysia’s LSS2 Auction
Q CELLS Completes First Photovoltaic Systems For Leading German Football Club RB Leipzig
AEG Power Solutions Leads Research For Hybrid UPS To Optimize Local Energy Supply In GIS-MS Project
ENGIE Africa Brings Off-Grid Power To Over 4 Million People
Enphase Energy Partners With CREATON To Provide Residential Solar Rooftops
Waxman Energy Appoint New Southern Sales Executive
Foresight Appoints Steven Hughes As Director And Head Of Portfolio

Search the news archive

To close this popup you can press escape or click the close icon.
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.

Please subscribe me to:


You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: