Andalucía Solar Portfolio II
A 240 MWp portfolio of five operational utility scale solar parks in Andalucía, contracted under 15-year corporate PPAs with investment grade offtakers.
- Target return
- 6.85%
- Term
- 7 yrs
- Capacity
- 240 MWp
- Issuance
- €185m
About this issuance
The issuance refinances a portfolio of five ground mounted solar PV parks reaching commercial operation between 2021 and 2023. Approximately 82% of forecast revenue is contracted through long term power purchase agreements with two investment grade corporate offtakers, with the balance sold into the Iberian wholesale market. The assets benefit from strong irradiation, availability based O&M contracts, and a debt service reserve equal to six months of scheduled payments.
82%
Contracted revenue
Under 15-yr PPAs
13.4 yrs
Weighted PPA term
1.42x
DSCR (min)
5 / 5
Assets operational
Investment highlights
- 82% of forecast revenue contracted under 15-year investment grade PPAs
- Minimum projected DSCR of 1.42x with a six month debt service reserve
- EU Taxonomy aligned; second party opinion from an accredited provider
- Fully operational assets with two full years of production history
Fixed rate · paid semi-annually
Capital at risk. Subscription is available to verified professional investors only and is subject to the prospectus and final terms.