Altano Energy, Spain’s renewable independent power producer (IPP), has announced the successful signing of an €81 million financing facility with ING, to support the construction of its multi-technology portfolio in Andalucía.
The initial perimeter of this portfolio includes a total of 94 MW, combining both photovoltaic and wind technologies, with plans for further hybridization through battery storage systems and the addition of more solar and wind capacity. The entire portfolio is expected to become operational by 2027.
These assets will prevent the emission of more than 36,000 tons of CO2 into the atmosphere each year, generating the equivalent of clean energy supply to more than 56,000 homes.
This financing represents Altano’s first transaction with ING Spain & Portugal, expanding the company’s network of lenders and investors supporting its business plan with a reputable financial institution. The financing also incorporates a mechanism to expand the facility for additional hybridization capacity.
For this transaction, Altano Energy was advised by Uría Menéndez as legal counsel, Astris as financial advisor, and Willis Tower Watson as insurance broker. ING received counsel from Dentons (legal advisor), Altermia (technical advisor), and EY (model auditor).
Miguel Sánchez Praena, CEO Altano Energy, said:
“We are proud to have secured this financing and support from ING, demonstrating the strength of our portfolio and business plan. This milestone will allow us to continue building a robust, high-quality multi-technology portfolio, positioning the company uniquely to capitalize on market opportunities.”
David Mesia, Head of Energy & Infrastructure ING Spain & Portugal, said:
“It is a pleasure to onboard Altano Energy as a new client, one of the few leading renewable platforms in Iberia combining wind, solar & hydro technology and led by a strong seasoned Management Team. This new transaction reinforces ING’s commitment in the global decarbonization path and supports Altano´s growth plan in the Iberian renewable market.”