HSH succeeds in entering the Portuguese market with the refinancing of 2 solar plants
Hamburg/Kiel, December 13, 2017 - HSH Nordbank will provide the independent French energy producer Neoen long-term loans amounting to about € 30 million to refinance two solar plants in Portugal.
The refinancing, in which two other banks are involved in a club deal, totals € 60 million. This involves HSH Nordbank for the first time providing financing in the form of secured bonds, which are issued under the terms of project financing and in line with financing standards for such projects in Portugal. The two solar plants, which are both in operation and both located near Lisbon in Seixal and Cabrela, together have a total rated output of 22 megawatt peak (MWp). HSH Nordbank has succeeded in entering the Portuguese market with this transaction.
Neoen was established in 2008 and is headquartered in Paris and became a leading French renewable energy company. Neoen is also active internationally, with projects located for instance in Australia and Salvador.
“This refinancing is very appealing to us for several reasons,” Lars Quandel, Head of Energy & Infrastructure at HSH Nordbank, said. “We gained Neoen as a new client and created a new product in our Bank with this transaction that is exceptionally well suited for follow-on business.”
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