Macquarie Infrastructure Debt Investment Solutions (Midis), a subsidiary of the Australian group Macquarie specializing in debt investments, has agreed to invest 38 million euros in a portfolio of solar parks belonging to Q-Energy, which will also manage it.
The six solar parks in this portfolio are already operating in southeast Spain, although neither party has specified their location. In total they have an installed capacity of 13.6 MW of photovoltaic solar energy.
Midis' contribution will serve to refinance the portfolio's existing debt with 21-year amortizing senior secured bonds. This is further evidence of its confidence in the Spanish renewable energy market, as it has deployed over 150 million euros in the Spanish solar sector in the last 12 months.
A leader in Europe
Q-Energy is one of the largest investors and photovoltaic solar plant operators in Europe, managing over 90 projects with a total of 1 GW between Spain and Italy. For its part, Midis has invested a total of 2.1 billion euros since 2012 in infrastructure debt in over 30 renewable energy projects with a total installed capacity of approximately 6.8 GW.
Tom van Rijsewijk, managing director of Midis, assesses the latest transaction in Spain as follows: “Significant capital investment is required as Spain pursues its ambitious target to generate 100% 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 at Q-Energy, adds: "Q-Energy is proud to be the leading debt issuer in the European solar project bond market. Our team will reach then end of 2020 with ten project bonds and approximately 1.5 billion euros 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".
Last updated: 07|10|2019