Acciona takes on four new CENIT projects

Acciona has embraced innovation as one of the pillars of its corporate strategy, as evidenced by the fact that the Company is taking part in four of a total 18 new CENIT projects (CENIT stands for National Strategic Consortiums for Technological Research, part of Spain’s Ingenio 2010 research programme) aimed at fostering cooperation between companies, academia and public administrations in an effort to give momentum to R&D in Spain. ACCIONA has announced it will spend 23 million euros on the four projects over the next four years.

Acciona is to take on the following CENIT projects:

* Efficient and Intelligent Technologies for Health and Comfort in Building Interiors – TECNO – CAI. The aim of this project, which is to be led by Acciona Infrastructure, with the participation of Acciona Instalaciones and Iberinsa, is to obtain the best possible health and comfort levels in building interiors, using new systems, technologies and materials, including an intelligent control platform capable of detecting and controlling critical factors in the environment through intelligent data processing.
* Sustainable Bio-refinery – BIOSOS. This project will look for ways of using plant-origin resins in the manufacture of bio-sustainable construction materials. Acciona Infrastructure will work alongside Abengoa on this research venture.
* R&D on new thin-layer-PV-cell-based energy generation technologies – ATON. Acciona Instalaciones will help look into ways of applying thin-layer-PV-cell solutions in architecture and construction. Project coordinated by Aton.
* OCEANLIDER – Marine renewables technologies. Acciona Energy will work with Iberinco on developing floating devices for measuring offshore wind energy resources, as well as designing an operations methodology for offshore wind farms, certification and training for personnel and a life-cycle analysis for offshore wind power parks.

Acciona’s commitment to innovation is reflected in the Company’s participation in 12 CENIT projects (including the four projects mentioned above), and the Company’s three technological R&D and Innovation centers manned by 360 professionals in Madrid, Pamplona and Barcelona. The teams are engaged in research into innovative technologies in a number of fields: nanotechnology and new materials applied to sustainable construction; reuse of construction materials; ITCs; wind power, solar PV and thermoelectric power technologies; hydrogen production; renewables-powered desalination, and wastewater reuse.

Acciona Energia (ANA.MC) has reached financial close on its financing for its 150 MW solar thermal power project with 29 banks, one of the largest single solar financings yet transacted. Financing consists of 542 million euros in senior debt and a 59 million euro VAT facility. Total equity and sub debt are 292 million euros. Lending banks in the deal are HSBC, BBVA, Banesto, Banco Sabadell, Calyon, Dexia, Popular, Santander and WestLB.

The loan is a seven-year soft mini-perm, with 19.5 year underlying, and maturity in June 2029. Construction margins are 300 bp, increasing to 325 bp from close of construction to year three; to 350bp between years three and seven; and to 400bp from year seven until maturity. The average debt service cover ratio is 1.3x. The three technologically identical solar thermal assets, the 50 MW plant at Majadas and the two 50 MW plants at Palma del Rio, qualify for the old feed-in tariff rate and were partly financed by the bridge loan extended earlier this year to get construction started.

Acciona ranks sixth among the Spanish companies that spend most on R&D and Innovation, according to the EU’s "R&D European Scoreboard".