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Crédit Agricole CIB participates in the project financing of two thermo-solar power plants in Spain
In April 2011 Crédit Agricole CIB acted as mandated lead arranger for Elecnor in the financing of two thermo-solar power plants. The Bank’s participation amounts to EUR 418 million. The tenor of the financing is 19.5 years.
The other mandated banks were BBVA (coordinating bank), Caja Madrid, Banco Popular, Banco Santander, Banesto, La Caixa, Bankinter and l'Instituto de Crédito Oficial (Official Credit Institute).
The two 50MW thermo-solar power plants, Aste 1A and Aste 1B, will be located in Ciudad Real, Spain. They shall be in commercial operation prior to end 2012.
Elecnor is a group of companies engaged in the engineering, development and construction of infrastructure in the fields of energy, the environment, technology and information systems and space.