G-advisory, technical advisor to the banks in the financing of the Belinchón 150 MW photovoltaic plant

Grenergy, the independent power producer has closed a financing deal to build the Belinchón photovoltaic plant (Cuenca, Spain) with a green loan of €89.5 million.

G-advisory has advised the banks involved in the project, Norddeutsche Landesbank – Gironzentrale and Bankinter, throughout the financing process, providing consulting services and technical and ESG advice which have helped to successfully close the financing of the project. The loan complies with the Green Loan Principles (GLP) for this type of financing, which are aimed at supporting environmentally responsible activities and projects.

The new 150 MW plant, which is now under construction, is the second largest project built by Grenergy in Spain. Through this transaction, G-advisory has strengthened its relationship with Grenergy and the banks and consolidates the trust they have both placed in supporting, in the technical and ESG spheres, large M&A transactions and the financing of renewable energy projects.