Madrid, February 14th, 2019
As of today, SOLARIA reports it has successfully completed the refinancing of the project debt associated to the Italian assets with Banco Santander S.A..
These assets include 10 PV plants in Marche and Sardinia regions with a power of 16.7MW.
The total amount of the refinancing is 52.2M EUR, which has been disposed today.
The agreement supposes a substantial improvement of the interest rate, as well as an extension of the financing terms.
With this operation, the annual dividend received by the company will double and a 15M EUR free cash flow will be generated which will be used as equity to finance the development and construction of new projects.
Enrique Díaz-Tejeiro, SOLARIA President: “We are very proud to close the successful refinancing of the Italian assets. The free cash flow and the extra dividend generated will contribute to the strengthening of Solaria’s balance sheet and to finance its growth”.
