Having successfully completed initial bridge financing of €38.7 million for the Acciona group with the support of CA CIB Spain, CA Ukraine (CAU) has granted its second bridging loan for the sum of €21 million over a one-year term to Acciona’s subsidiaries in Ukraine.
This financing will cover the cost of construction of the Gudzovka and Arcyz solar power plants (SPP), generating a total capacity of 44 megawatts in the south of the country. It is expected that the plants will be connected to the network in November 2020. This is Acciona’s second solar energy project in Ukraine, where the group is exploring the possibility of further projects, as well as wind power projects thanks to favourable market conditions.
This synergy will further strengthen the relationship between CAU and CA CIB and will help foster a long-term partnership with this client, both on a global and local scale. Furthermore, this transaction forms part of the Crédit Agricole Group’s strategy for the development of green finance.
Acciona is one of CA CIB’s largest clients in Spain and a leading global supplier of sustainable infrastructure solutions and renewable energy projects. Acciona was the world’s greenest utility company for the period 2015-2019: No. 1 in “New Energy Top 100 Green Utilities”. CA CIB is one of Acciona’s main international banks.