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RENOVALIA SIGNED FOR THE FINANCING OF THREE PHOTOVOLTAIC PARKS IN ITALY WITH WESTLB AND CENTROBANCA

2011-10-03

58 million euros


RENOVALIA SIGNED FOR THE FINANCING OF THREE PHOTOVOLTAIC PARKS IN ITALY WITH WESTLB AND CENTROBANCA


•    This operation shows how financial institutions trust Renovalia’s model, not only in Spain but also in other countries.

•    The three parks, which recently went started operations, have a total capacity of 16.44 MW and will generate 24 GWh annually.

•    With this operation, Renovalia has strengthened its position in Italy, as well as its role as one of the leading Spanish renewable energy companies with the strongest international presence.


Madrid, October 3th, 2011. Renovalia Energy, a company which specializes in the promotion, engineering, construction, exploitation and sales of electricity generated from sources of renewable energy, announced today a 57.88 million euros agreement for the financing of three photovoltaic parks that the company operates in Italy. The financing was closed under the non-resource project structure with an 18-year term, and was signed with WestLB AG and Centrobanca, Banca de Credito Finanziario and Mobiliare S.P.A. This agreement confirms the impact that financial institutions have in Renovalia’s model.

These three parks, located in the Lazio area and built by Renovalia Ingeniería EPS, consulting, construction and maintenance division of the Company, have a total capacity of 16.44 MW. Their annual estimated production, of approximately 24 GWh, will be able to provide clean energy for 6,000 homes.

With this project, Renovalia has strengthened its position in Italy, a market of which it has been part since 2008, and that has been one of the most attractive markets for the global photovoltaic sector. Also, Renovalia has reinforced its role as one of the leading Spanish renewable energy companies with the strongest international reach, operating in seven countries (Spain, the United States, Canada, Mexico, Italy, Romania and Hungary). The company generates more than 570 MW in parks, in operation and under construction, which consist of ten wind power parks, six solar photovoltaic parks, one mini-hydraulic power station and a solar thermal plant.

In addition, Renovalia Energy is focused on R+D+i, developing high technology solar systems. In fact, CPV systems and Stirling thermal motors developed by Renovalia are a decisive step towards 'grid parity’.




About Renovalia Ingeniería EPC

Renovalia Ingeniería EPC provides technical, consulting, construction and maintenance services for Renovalia and other users. The company has built all of its photovoltaic parks, and will be adding up to an installed capacity of 100 MW with these three parks.

About Renovalia Energy

Renovalia Energy is a company specialized in the promotion, engineering, construction, exploitation and sales of electricity generated from sources of renewable energy (wind, solar, photovoltaic, concentrated solar photovoltaic, thermoelectric and mini-hydraulic).

The Company, which operates in seven countries (Spain, USA, Canada, Mexico, Italy, Romania and Hungary) has over 570 MW in operation and under construction, distributed over ten wind power farms, six photovoltaic solar farms, one mini-hydraulic central and one thermal solar plant.

It has a project investment of over 2,400 MW, diversified from a geographic and technological point of view.

Today, Renovalia Energy is one of the reference companies in the sector and has one of the most balanced energy mixes in the market, which has made it into one of the most important producers of clean energy.

The Company has always maintained a corporate strategy of continuous investment, with the purpose of reducing the costs of renewable technologies and its impact on the environment, as well as increasing its presence in the market, both nationally and internationally.

In 2010, Renovalia was able to avoid the emission of 110,744 tons of CO2 to the atmosphere, which equals the carbon dioxide produced per year by 232.000 households or 62.000 cars.

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