Macquarie refinances 365MW UK PV portfolio

Feb 23, 2022 11:59 AM ET
  • The collection of 24 plants is owned by Vantage Solar
Macquarie refinances 365MW UK PV portfolio
Image: Asia Chang/Unsplash

Macquarie Asset Management has actually completed a refinancing of a portfolio of 365MW solar energy plants in the UK owned by Vantage Solar UK.

The ₤ 275m (EUR330.1 m) portfolio is included 24 ground-mounted solar photovoltaic or pv plants situated throughout England and also Wales, and straightens with the European Union's taxonomy for lasting activities.

The functional portfolio makes a crucial contribution to the UK's supply of clean power, creating adequate electrical power to power the equivalent of greater than 90,000 homes each year.

The portfolio is mostly had and also operated by Vantage RE, a UK-based renewable energy financial investment and also asset management firm possessed by Bursa Malaysia-listed electrical energy utility Tenaga Nasional Berhad.

The funding agreement prepared by Criterion Chartered includes a 13-year tenor and will allow Vantage Solar UK to refinance existing shorter-term debt.

Macquarie Asset Management managing supervisor Tom van Rijsewijk stated: "Accessibility to institutional financial savings swimming pools will be crucial if the UK is to proceed the build-out of clean generation capacity as well as deliver on its target of attaining internet zero exhausts by 2050.

" This refinancing is a perfect presentation of this financial investment motif at work, offering Vantage Solar UK with the long-term funding it needs to deliver on its approach whilst providing our clients with a lasting investment chance that contributes directly to the low-carbon change."

Vantage RE chief executive Vian Davys stated: "This refinancing represents a significant milestone for the shareholder's portfolio, for which Macquarie has offered excellent cooperation and also support throughout the procedure.

" This new financial obligation package gives us with higher certainty with regard to the shipment of our lasting investment as well as asset management technique, in accordance with Tenaga Nasional Berhad's desire to be a leading sustainable power remedies provider."

Considering that 2012, Macquarie Asset Management has provided roughly ₤ 2.6 bn across approximately 40 renewable resource projects standing for a total set up capacity of more than 15.5 GW through its infrastructure debt platform.

This includes around ₤ 1.9 bn purchased renewable resource projects across the UK.

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