Aquila Clean Energy wins IJGlobal Award

Aquila Clean Energy wins IJGlobal Award

March 10, 2023

Energy Transition
Award.jpg

Aquila Clean Energy EMEA has won the IJGlobal Award in the category 'Renewable Energy Solar deal of the year – Europe'.

This prize was presented for the best-in-class transaction and institution in the international infrastructure and energy sector at a gala dinner in London on 09 March 2023. IJGlobal, a very well respected provider of market intelligence for project and infrastructure finance, hosted the awards.

Aquila Clean Energy received the award for its EUR 1 billion construction facility completed in September 2022. The loan was provided to support the development and construction of a pipeline of more than 50 renewable energy projects in Spain and Portugal with a total capacity of 2.6 GW over a three-year period.

This tailor-made project breaks new ground with the European Investment Bank acting as a short-term lender for the first time, with an EU budget guarantee under the InvestEU programme allowing it to increase its risk-taking capacity. This enabled the bank to contribute a loan of EUR 400 million, with the remaining EUR 600 million coming from a consortium of seven commercial banks. The debt was significantly oversubscribed, confirming lenders’ strong interest in the financing.

This landmark transaction will significantly increase the renewable energy generation capacity on the Iberian Peninsula. Moreover, it will contribute to the objectives of the European Green Deal and support economic development in the regions where Aquila Clean Energy is developing its projects.

Susanne Wermter, CEO of Aquila Clean Energy EMEA comments:

'This transaction for our Iberian project pipeline constitutes the largest financing in the history of Aquila Clean Energy as well as Aquila Capital. We are very pleased to have received the IJGlobal Award for the best Renewable Energy Solar deal in Europe for this unique construction. The transaction significantly supports our strong growth in clean energy projects. We remain committed to actively contributing to the energy transition in Europe and the decarbonisation of the economy with further projects going forward.'

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