Solaria, a leading company in the development and generation of solar photovoltaic energy in Southern Europe, has today announced it has successfully placed €48.8 million issue of short-term notes with 12-18 months tenor to institutional investors at a very attractive average interest rate below 1%, within its Commercial Paper programme registered in the Alternative Fixed-income Market MARF.
This amount will strengthen the working capital of the company, which in April will start construction of its flagship Trillo project in April, the largest PV project in Europe with a capacity of 626MW.
The interest shown by institutional investors reflects the trust in the company and Solaria's strong capacity to access the financing it needs to continue developing and building its projects, in line with its strategic plans and targets.
Enrique Diaz Tejeiro, Chairman of Solaria, said: “We are pleased to announce that we have successfully closed a new issuance of Commercial papers. The financing conditions are exceptional, the best signed to date. They are proof of investor confidence in Solaria, which continues to work on the projects contemplated in our strategic plan. The Trillo project is one the largest in Solaria's portfolio of projects and will be the largest photovoltaic solar power plant in Europe. It represents approximately 30% of the 2150MW that we have set as a target for 2021.”