Aquila Clean Energy secures financing for 2.6 GW renewable projects in Europe

Aquila Clean Energy EMEA, Aquila Capital’s European clean energy development platform, has raised finance for a EUR 1 billion construction facility with funding from the Invest EU programme. Over the next three years, the funding will help in the development and construction of the company’s renewable energy pipeline in Spain and Portugal.

The projects will be executed in Spain in Castilla y León, Comunidad Valenciana, Andaluca, Cantabria, Castilla-La Mancha, and Murcia, and in Portugal in Setbal, Coimbra, Evora, and Leiria. The pipeline includes more than 50 projects wherein many of them either are solar photovoltaics or onshore wind assets with a total capacity of 2.6 GW. These projects are expected to produce 5.3 terawatt hours per year.

Santander served as the facility and security agent for the construction facility. NatWest delivered to be the documentation agent and KfW IPEX-Bank served as the hedging documentation agent. The facility was also supported by BNP Paribas, ING, Intesa SanPaolo, and Banco Sabadell. The debt was significantly oversubscribed, indicating that lenders were very interested in the financing.

Aquila Clean Energy generates, realises, and operates clean energy assets in the solar, wind, hydropower, and battery storage industries. Aquila Clean Energy currently manages a portfolio with a total capacity of more than 8.2 GW.


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