Hydroelectric power plants and wind farms continue to grow thanks to green bonds

28/09/2020

Ecoener, a Spanish energy generation company, successfully issued a 130 million euros green bond to refinance wind and hydroelectric projects in the Canary Islands and Galicia.

The deal, the first mixed green bond issued by a Spanish company, gives Ecoener a stable and flexible capital structure to undertake future growth initiatives from a position of strength. 
Ecoener, a 30 year old specialist in long-term renewable technology, builds and operates hydroelectric power plants, wind farms and solar photovoltaic plants. It has a total of 130 MW in operation, 12 MW under construction and 1.242 MW under development.
 

We are very satisfied with our first bond issue, it confirms Ecoener’s competitiveness and leadership and underpins that we have reached a new level in our financing capabilities, backed by strong track-record of results and a solid financial profile. The bond, in addition to the groups adoption of best market standards and the cancellation of debt, allows us to strengthen our capital base and support our future growth strategy.

Luis de Valdivia,
CEO of Ecoener in a recent press release

Ecoener’s green bond is a senior secured bond with a 20-year maturity and a coupon of 2,35%. It is a pioneering green bond in Spain, thanks to the technology of the projects it targets that includes both hydroelectric and wind power. 
Societe Generale played a key role in this important deal as Sole Placement Agent.

“ We are proud to accompany Ecoener in this successful deal that underpins their sustainable growth strategy. Societe Generale fully supports positive impact finance. ”

Rui Madeira,
Deputy Head of Infrastructure Capital Markets for Société Générale
No author id set