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Eiffel Investment Group strengthens its commitment to Capital Energy with two new tranches amounting to €50 million in total

By: Capital Energy · 22 Feb 2022

  • Thanks to the funding it agreed with this French investor, the company has obtained funds to continue to drive the commissioning of five additional assets in Spain, including four wind farms and one solar PV plant, totalling 202 megawatts (MW) of power
  • The issuance of this bond opens up a new funding facility for Capital Energy, whose portfolio of renewable assets amounts to around 34 gigawatts (GW) in Spain and Portugal, of which upwards of 8,000 MW have already been granted grid access rights

Madrid, 21 February 2022.- Capital Energy, a twenty-year-old Spanish energy enterprise aiming to become the first vertically-integrated 100%-renewable energy company in Spain and Portugal, continues to take steps to strengthen —from a financial standpoint— the development of its clean energy project.

Thus, Eiffel Investment Group, through its bridge financing funds, has strengthened its commitment to Capital Energy, by adding two new tranches, for a total of €50 million —20 of which are already committed— as part of the extension of the bond facility closed for the same amount by this French investor dedicated to the energy transition during the first quarter of 2021.

Capital Energy will allocate these funds to five additional projects that are at different levels of development: four onshore wind farms and one solar photovoltaic plant, together totalling 202 megawatts (MW) of installed capacity. The wind farms totalling 194 MW are located in Castile and León (Soria), Castile-La Mancha (Albacete) and Andalusia (Huelva), while the 8 MW solar plant is located in Castile-La Mancha (Cuenca).

The five renewable assets to which the company will allocate this additional €50 million will be able to supply close to 590,000 megawatt hours (MWh) of clean energy per year. This is equivalent to the consumption of around 221,000 Spanish households, thus preventing the annual emission into the atmosphere of 218,000 tons of CO2[1].

The extension of this bond facility opens up a new means of attracting funding for Capital Energy, which is currently assessing a broad range of short-, medium- and long-term financing instruments to develop its business plan.

Eiffel Investment Group was advised by the Spanish law firm Squire Patton Boggs for this transaction.

About Capital Energy

In line with its commitment to the Green and Fair Energy Transition, Capital Energy currently has a portfolio of wind and solar energy projects on the Iberian Peninsula amounting to approximately 34 gigawatts (GW) of power, for which over 8 GW already have grid access licences granted.

Capital Energy reached its strategic objective of being present throughout the entire renewable energy generation value chain: from promotion, where the company has a consolidated position thanks to its nearly two-decade-long history, to construction, production, storage, operation and supply to end customers. The company now has 16 branches in Spain and Portugal.

About Eiffel Investment Group

Eiffel Investment Group is an asset manager specialising in corporate financing. With more than €4 billion of assets under management at the end of 2021, Eiffel Investment Group offers companies a broad range of listed and private debt and equity funding solutions. The group established an institutional infrastructure and ensures a very close alignment of interests with its customers. Eiffel Investment Group is an independent company owned by its team together with Impala.

[1] Source: own estimates of electricity production from renewable projects, electricity consumption data from the CNMC Indicators Bulletin, specific factor for thermal generation emissions from REE and information on economic relations from the INE.