Ecoener signs €85 million sustainable financing agreement coordinated by BBVA

10 | 14 | 2022

Ecoener signs €85 million sustainable financing agreement coordinated by BBVA

  • Société Générale, Banco Sabadell, ICO, Banca March and EBN Banco  also participated in the transaction.
  • This financing format is unprecedented in the renewable energy sector and will enable Ecoener to step up growth.
  • The deal is aligned with the UN’s Sustainable Development Goals (SDGs) and meets the international sustainability criteria laid out by the Loan Market Association (LMA).

Madrid, 7 October 2022.- Ecoener has signed a €85.5 million sustainable syndicated loan, extendable to €100 million, with a consortium of 6 banks coordinated by BBVA, the company reported in a regulatory filing with stock market supervisor CNMV.

This innovative financing deal delivers robust backing for the global growth plan underway by Ecoener, and will allow the company, with Chairman Luis de Valdivia at the helm, to consolidate its international expansion.

Société Générale, Banco Sabadell, ICO, Banca March and EBN Banco are among the banks that took part in the syndicated loan, coordinated by BBVA.

Innovative financing

This financing format is new to the renewable energy industry and will allow Ecoener to step up its growth plans. The loan has been agreed prior to project finance, avoiding the lengthy management periods involved in securing these financial resources.

The more agile processes involved in this syndicated loan affords the company quick access to financial resources, allowing it to roll out projects with significantly faster start-up times for new assets.

Sustainable Financing

This loan is linked to the Sustainable Development Goals (SDGs) and meets the global sustainable financing criteria laid out by the Loan Market Association (LMA), as the company’s technology enables systemic decarbonisation of the economy, clearly reflecting Ecoener’s constant commitment to these sustainability targets.