French corporate bank Natixis CIB has agreed to finance the development of a 1,231-MWp solar photovoltaic portfolio in Spain, Spanish business newspaper El Economista reported on Saturday.
The corporate and investment bank reached an agreement with power engineering specialist Cobra IS to provide EUR 700 million (USD 741.9m) in financing for the development, construction, commissioning and operation of 21 solar farms across Spain, the report said.
Cobra IS, part of French builder and concessionaire Vinci SA (EPA:DG) since late 2021, will develop the projects via vehicle Spanish Portfolio SL.
Natixis CIB served as mandated lead arranger, joint bookrunner and green loan coordinator in the financing. Law firm Watson Farley & Williams advised the bank, El Economista reported.
(EUR 1.0 = USD 1.06)
