RIC Energy has reached a new milestone in its strategy to become an independent power producer (IPP) with the successful closing of €29.5 million in financing for its Bluesol 1 and 2 photovoltaic plants, located in Almodóvar del Campo (Ciudad Real).
With over 60 MW of installed capacity, these will be the first plants built by RIC Energy in Spain, following more than 20 years of developing renewable energy projects across different technologies and markets on four continents. The transaction was structured under a Project Finance model and financed by Alameda Energy Fund, a €200 million fund managed by Beka Credit specializing in renewable energy.
The financial closing validates RIC Energy’s ability to develop and finance projects based solely on their viability, without the need for corporate guarantees from the shareholder, thus consolidating its progress toward the IPP model.
The process involved active contributions from RIC Energy’s development, finance, and legal teams, along with technical support from external advisors. The transaction was completed efficiently after meeting due diligence requirements and receiving approval from the fund’s investment committee.
Bluesol 1 and 2 represent a decisive step in RIC Energy’s expansion in Spain and reinforce its position as a key player in the renewable energy sector.
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