Subscribe to our free daily newsletters
  Space Travel News  

Subscribe to our free daily newsletters

AES Solar Energy Closes Financing For Spain PV Project

Formed in March, 2008, AES Solar develops, owns and operates utility scale solar installations.
by Staff Writers
Arlington VA (SPX) Jan 14, 2009
AES Solar Energy Ltd (AES Solar), a joint venture between The AES Corporation and Riverstone Holdings LLC, announced that on December 30, 2008 one of its subsidiaries closed a euros 70 million non-recourse debt facility for five of its photovoltaic (PV) projects in Spain. The loan was extended by UniCredit Mediocredito Centrale of Italy and Rabobank of the Netherlands. The financing is at an initial margin of 255 bps to EURIBOR per annum and it is amortized based on an underlying tenor of 18 years.

Formed in March, 2008, AES Solar develops, owns and operates utility scale solar installations. The PV solar installations are part of AES Solar's eight operating power plants in Spain. The projects qualify for the favorable regulated tariff under the Spanish Special Regime for renewable projects (Royal Decree 661/2007).

"We are encouraged by our ability to close the financing in challenging credit markets. This accomplishment is largely the result of the intersection of good projects, good banks, and good people working hard on both sides of the deal," said Robert Hemphill, CEO of AES Solar.

"The transaction reflects UniCredit Group's resolute commitment to AES Solar and to the renewable energy sector, which remains undeterred in spite of challenging market conditions," said Massimo Pecorari, Head of Project and Commodity Finance Southern Europe.

Marcel Gerritsen, Global Head Renewable Energy and Infrastructure Finance of Rabobank expressed, "We are very happy to have been able to work with AES Solar to produce an innovative financing solution for this solar portfolio, matching both the innovative technology used and the challenging conditions we all face."

First Solar's thin film panels are used in three of the five projects. This financing represents the largest project financing completed in Spain for solar installations utilizing First Solar panels.

Related Links
AES Solar Energy
All About Solar Energy at

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Borrego Solar Installs Major Solar Electric System At Veritable Vegetable
Berkeley CA (SPX) Jan 14, 2009
Borrego Solar Systems, Inc., a leading designer and installer of grid-connected solar electric power systems, today announced that Veritable Vegetable, the nation's oldest distributor of certified organic produce, has installed a 560-panel solar electric system on its 25,000 square foot warehouse facility in San Francisco.

  • Giant Rockets Could Revolutionize Astronomy
  • Battle Of The Launches All Over Again
  • NASA Tests Engine Technology For Landing Astronauts On The Moon
  • Flometrics Tests BioDiesel As Rocket Fuel

  • Hot Bird 10 Delivered For Multi-Payload Ariane 5 February Liftoff
  • ISRO To Launch Four Foreign Satellites This Year
  • Ariancespace Celebrates Year Of Successes
  • Arianespace To Launch Egyptian Satellite Nilesat 201

  • Discovery Ready To Roll
  • Sharks Fly With Shuttle On Return Trip
  • NASA describes final moments of Columbia tragedy
  • NASA gives crew safety tips after detailing Columbia tragedy

  • Kogod Students Pioneer Branding Potential Of International Space Station
  • Spacehab To Support Pre-Launch Preparations For Russian Module
  • Russia Tests Phone Home To Santa Network
  • ISS Astronauts Successfully Complete Spacewalk

  • Ex-Air Force general could be new NASA boss
  • Verizon Business Wins Major NASA TeleConferencing Contract
  • A Testing Future Of Exploration And More For NASA In 2009
  • NASA finds clues to Mars mysteries

  • Fengyun-3A Weather Satellite Begins Weather Monitoring
  • Shenzhou-7 Monitor Satellite Finishes Mission After 100 Days In Space
  • China Launches Third Fengyun-2 Series Weather Satellite
  • China To Launch New Remote Sensing Satellite

  • Japan researchers unveil robot suit for farmers
  • Will GI Roboman Replace GI Joe
  • Marshall Sponsors Four Student Teams In FIRST Robotics Competitions
  • Jump Like A Grasshopper

  • Santorini Panorama A Subtle Beauty
  • Martian Rock Arrangement Not Alien Handiwork
  • A Change Of Seasons On Mars
  • Human Spaceflight To Mars Proposed Using Combination Of Space Shuttles

  • The content herein, unless otherwise known to be public domain, are Copyright Space.TV Corporation. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space.TV Corp on any Web page published or hosted by Space.TV Corp. Privacy Statement