From Yahoo Finance: 2025-06-04 06:34:00

Enlight Renewable Energy secures $310m financing for Spain’s Gecama hybrid project, integrating a solar array and storage system with the largest wind farm, aiming to deliver clean electricity 24/7 at competitive costs. The project aligns with Spain’s climate goals and will enhance energy stability post-2025 blackouts.

The hybrid complex in Spain will be the country’s largest renewable energy facility, supporting grid stability with peak shifting and frequency response capabilities. Enlight CEO highlights the project’s significance in expanding renewable assets and technological leadership in the energy sector.

Solar and storage components of the Gecama project expected to be operational by late 2026, potentially increasing annual revenues by $38-$40m and EBITDA by $31-$33m in the first year. The integrated project could generate $95-$105m in revenue and $75-$80m in EBITDA annually upon full operation.

Financing for the project includes two tranches with a fixed interest rate of 5.1% and full amortization by 2045 and 2046. MEAG leads the financing, allocating over $150m to construction costs, with the remainder to be funded through equity.

MEAG, BNP Paribas, and DLA Piper play key roles in financing and advising Enlight on the Gecama project. The infrastructure debt transactions team of MEAG led the financing, ensuring the project’s successful completion and contribution to Spain’s renewable energy infrastructure.

Enlight indirectly holds 72% of the Gecama project, with the remaining interest held by Israeli institutional investors. The company recently closed financing for the Quail Ranch project in the US, further expanding its renewable energy portfolio with construction loans secured through Clenera Holdings.

“Enlight secures $310m for Spanish hybrid renewable energy facility” was originally reported by Power Technology, showcasing the company’s commitment to expanding renewable energy assets and technological advancements in the industry.

Read more: Enlight secures $310m for Spanish hybrid renewable energy facility