Capital Energy secures €165 million from MEAG for wind power and solar energy

The funds will go to four wind farms and a solar plant that will be able to satisfy the consumption of more than 250,000 homes with clean electricity each year.
The operation, which has had the legal advice of Cuatrecasas and Ashurst, opens a new way of attracting economic resources for Capital Energy, whose renewable portfolio in Spain and Portugal is around 30 gigawatts (GW), of which more than 8, 5 GW already have access rights.
Capital Energy, a Spanish energy company founded two decades ago and whose vocation is to become the first vertically integrated 100% renewable operator on the Iberian Peninsula, continues to take steps to consolidate, from a financial point of view, the implementation of its clean energy project .

The company has closed a relevant agreement with MEAG, the fund that manages the investments of Munich Re, including ERGO -one of the world’s leading providers of reinsurance, direct insurance and insurance-related risk solutions-, with which it has obtained financing for 165 million euros.

Capital Energy will allocate these funds, granted under the project finance modality, to five renewable facilities, four wind farms -one of them, Las Tadeas, already operational- and a photovoltaic solar plant, which are at different stages of development and have a total capacity of 206 megawatts (MW). The wind farms total 198 MW and are located in Palencia and Soria (Castilla y León) and Albacete (Castilla-La Mancha), while the solar plant, with 8 MW of installed power, is located in Cuenca (Castilla-La Mancha). .

The Las Tadeas wind farm is located near the Palencia municipalities of Paredes de Nava and Cardeñosa de Volpejera and has a capacity of 39.05 MW thanks to its 11 wind turbines, the SG 3.4-132 model from Siemens Gamesa and whose hub height reaches 101.5 meters.

These five clean energy infrastructures will generate significant environmental value when they come into operation, foreseeably between this year and 2024. Together, they will be capable of producing around 675,000 megawatt hours (MWh) of clean energy per year, equivalent to the consumption of more than 250,000 Spanish households. They will also prevent the annual emission into the atmosphere of nearly 240,000 tons of CO2.

The operation, which has been advised by renowned legal firms such as Cuatrecasas and Ashurst, opens up a new way of raising financial resources for Capital Energy, which is currently analyzing different financing options in the short, medium and long term in order to develop your business plan.

In line with its commitment to the ecological and fair energy transition, and currently has a portfolio of wind and solar projects on the Iberian Peninsula of around 30 gigawatts (GW) of power, of which more than 8.5 GW They already have network access permissions granted.

Capital Energy has completed its strategic objective of being present throughout the entire renewable generation value chain: from development, where the company has a consolidated position thanks to its 20-year history, to construction, production, storage , operation and supply. The company has 15 offices in Spain and Portugal where nearly 360 employees work.

MEAG is the asset manager of Munich Re and ERGO. With offices in Europe, North America and Asia, it offers its extensive know-how to both institutional investors and private clients. MEAG currently manages assets valued at 330 billion euros, 60 of them for institutional investors and private clients.