Private Equity News & Analysis

Banks lend €114m to Platina for renewables

NordLB, Banco Santander, BNP Paribas and NIBC will finance the private equity firm’s solar and wind projects in Spain and the UK.

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Private equity fund manager Platina Partners has secured €114 million in debt financing for two renewable energy projects in Europe.

Solar power: still bankable
In Spain, banks lent €70 million for Platina's acquisition of Arico solar energy farm from Spanish utility Endesa, the firm said in a statement. NordLB and Banco Santander provided the financing.

The acquisition will bring its total solar project portfolio in the country to 31 megawatts, Platina said. Of that, Arico will constitute 11 megawatts.

“This shows that long term debt is still available for projects with the right risk profile,” Alexandre Labouret, a partner at Platina, said in the statement.  

In the UK, Platina secured £39 million (€44 million; $66 million) in debt financing for the Pates Hill and Milton Keynes wind farms, which together will have 28 megawatts of electric generation capacity once operational. Pates Hill is nearing construction, Platina said, while Milton Keynes is about to begin construction.

BNP Paribas Fortis and NIBC provided the debt financing on a 50:50 split.

London-based Platina specialises in buyouts and renewable energy investments. The firm has more than €270 million dedicated to renewables, which it has been investing in since 2002.