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Altano Energy (“Altano”) reached financial close for a long-term non-recourse financing for an approximate amount of 90 million euros with Santander Corporate & Investment Banking (“Santander CIB”), for a renewable portfolio of 107 MW of different technologies in Spain. The portfolio includes mini-hydraulic assets in operation and a photovoltaic plant in a ready to build state. These assets will prevent the emission of more than 70,000 tons of CO2 into the atmosphere each year, generating the equivalent of clean energy supply to more than 80,000 homes.


This financing, which is unique in the market, represents a highly innovative and sophisticated structure, which benefits from the complementary production profile of different technologies in different locations. Within the framework of this operation, Altano previously closed a long-term hybrid power purchase agreement (“PPA”) with Engie España.

Altano has had the support of Astris as financial adviser, Herbert Smith Freehills as legal adviser, KPMG as tax adviser, Chatham Financial as hedging advisor and Watson Farley Williams as legal adviser in the PPA.

Miguel Sanchez Praena, CEO of Altano, said: “We are very grateful to Banco Santander for supporting us in this relevant transaction that demonstrates the quality of our portfolio and reinforces our long-term relationship. The bank’s deep knowledge of the industry has been key in the understanding and design of this innovative and sophisticated structure that benefits from the technological and geographic diversification of our assets.”

Benoît Felix, Head of Structured Debt at Santander CIB, said: “As a leader in renewable energy finance, we’re delighted to support Altano, a company that is making a great contribution to the energy transition. We’re proud to be part of what is one of the first hybridization initiatives that Santander is financing in Spain and to continue our commitment to facilitate EUR 220 billion in green finance between 2019 and 2030“.