Capital Energy signs a corporate loan for €140 million with Incus Capital and Ontario Teachers’ Pension Plan

The company continues strengthening its financial solidity

•  The financing, for four years, will enable the company to continue developing all of its business areas within the framework of its vertically-integrated 100% renewable project for the Iberian Peninsula.

Madrid, 9 July 2021.- Capital Energy, a Spanish energy company founded in 2002 with the aim of becoming the first vertically-integrated 100% renewable energy operator in the Iberian Peninsula, has just taken the next step in financially consolidating the development of its clean energy project.

Capital Energy has signed a corporate loan for €140 million with the European credit manager Incus Capital and the Ontario Teachers’ Pension Plan (OTPP).

The financing, for four years, will enable the company to continue developing all of its business areas within the framework of its vertically-integrated 100% renewable project.

Incus Capital is a European credit management firm with head office in Madrid and offices in Lisbon, Milan and Paris. Since its creation in 2012, Incus Capital has invested around €1.5 billion in over 80 operations in various sectors.

The Canadian global investor Ontario Teachers’ Pension Plan is one of the world’s largest private pension plans. With head office in Toronto, its net assets are estimated at $221.2 billion at the closing of the 2020 financial year, and it manages the pension plans of around 331,000 active and retired teachers.

This agreement opens a new line of financing for Capital Energy, which in March announced the signing of a project finance with Banco Sabadell for €26,000,000 and the issue of a €50,000,000 bond, fully subscribed by the French investor Eiffel Investment Group.

The company has closed several operations in recent months, both with top-rated national banks and with international institutional investors, for a global sum exceeding €300,000,000, which will allow it to undertake its business plan well into 2022.

A portfolio of more than 38 GW on the Iberian Peninsula

In line with its commitment to a green and fair energy transition, Capital Energy currently has a portfolio of wind and solar projects in the Iberian Peninsula with around 38 gigawatts (GW) of capacity, of which more than 8.7 GW have already received network access grants.

Thanks to the launch of its retail arm in the final quarter of 2020, Capital Energy reached its strategic aim of being present on the entire renewable energy value chain: from development, where, given its 20-year history, the Company has a consolidated position, to construction, production, storage, operation and supply.

The aim of the Company, which has more than 380 employees distributed throughout 15 offices in Spain and Portugal, is to deliver to the end consumer the 100%-renewable energy that it is already producing at its facilities.