Green Venture and Kommunalkredit, with the support of Marsh Risk & Capital (MR&K) as sole Financial Advisor to the Sponsor, have announced the financial closing of a €55.1 million financing package for the construction and operation of a 104.7 MWp solar PV portfolio which accounts for 22 special purpose vehicles (SPVs) located across Portugal.
The financing structure includes a €40.1 million senior bridge facility and a €15 million subordinated term loan facility (junior facility), both provided by Kommunalkredit as Sole Mandated Lead Arranger and Lender.
This transaction represents an important milestone for renewable energy deployment in Portugal. It was a complex process that required flexibility, resilience, and real collaboration from everyone involved. The constructive mindset of all parties was essential in making this financing possible.
“We are grateful for the flexibility and professionalism of the Kommunalkredit team, whose collaborative and constructive approach was essential throughout this process. We are also grateful to MR&K, our trusted advisors, for structuring a bespoke financing with Kommunalkredit and for their solid support, as well as to all advisors involved. This milestone represents a significant step toward the deployment of our financed pipeline and stands as a strong example of alignment and cooperation between all parties. We look forward to the possibility of working together again in the future,” said Bruno Sousa, Investment Officer, Green Venture.
“With this transaction, we continue to expand our footprint in the Iberian renewable energy market. Financing the 104.7 MWp solar PV portfolio in Portugal enhances essential clean energy infrastructure and builds on our collaboration with innovative partners such as Green Venture. We view tailored structuring and prudent risk mitigation as essential to making innovative renewable projects bankable,” added Halyna Yakovenko, Senior Transactor, Kommunalkredit.
“It has been a privilege to advise on the structuring of such complex and highly granular financing backed by a relevant solar PV portfolio that Green Venture is developing in Portugal. We are delighted to be pioneer in developing and structuring the financial products that the industry needs to make feasible and bankable renewable energy projects. Many thanks to Kommunalkredit for their commitment and excellence – this exceptional outcome was only possible through genuine collaboration. Grateful to Green Venture for their vision and their trust on us,” concluded Fernando García, Principal, MR&K.
The principal advisors for the transaction were PLMJ (borrower legal), Morais Leitão (lender legal), and OCA Global (lender technical).
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