Solar energy producer BNZ, has secured a €420 million green loan through a Total IPP Financing Facility (TIPPF), along with a Holdco financing facility of up to €260 million. This brings the total financing to €680 million. The financing will help BNZ continue developing PV projects across Southern Europe, particularly in Spain, Italy, and Portugal. By 2026 BNZ aims to develop 1.7 GW of PV capacity. The financing was arranged by the European Investment Bank (EIB), Intesa Sanpaolo, ABN AMRO, and others, with Palmer and Ares acting as agents for different segments of the financing structure. Legal, tax, and technical experts like EY, Mazars, Enertis, and others were also instrumental in securing the financing and ensuring compliance with ESG requirements.
BNZ secures €420 million green loan financing
The financing includes a €420 million senior debt facility and €260 million Holdco financing for Southern Europe solar projects. (Image Source:BNZ)
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