Cubico Sustainable Investments (Cubico) has achieved financial close on the refinancing of the Moron and Olivenza concentrated solar power (CSP) projects in Sevilla and Badajoz, Spain.
The refinancing of the projects, which were acquired in March this year as part of the Grupo T-Solar portfolio and have a capacity of 50MW each, was completed with a green loan.
The green loan complies with the Green Loan Principles and is the fourth of this type in Cubico’s Spanish portfolio, following the refinancing of the 50MW Arenales, Andasol I and Andasol II CSP plants last year.
Additionally, a hedge derivative has been put in place to cover interest rate risks.