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FINWIRES

Enviromena Secures $1.1 Billion Finance Package to Deliver 1 GW of UK Solar Projects

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-- UK-headquartered renewable energy developer Enviromena has secured 825 million British pounds ($1.12 billion) in finance to expand its solar portfolio and renewable energy platform, the company said on Friday.

The loan will be underwritten by a syndicate comprising BBVA, Intesa Sanpaolo, Lloyds, NatWest, and Societe Generale. A first 525 million pounds has already been committed, providing capital to deliver a 1 gigawatt solar pipeline across the UK.

The company said the finance package was a major step forward in its ability to accelerate project delivery as demand for clean and domestically produced energy grows.

The loan is structured as a "flexible platform" with a 300 million pound uncommitted portion, enabling the company to access it as projects progress.

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