February 8 (Renewables Now) - French renewable power plants operator Voltalia SA (EPA:VLTSA) has obtained EUR 250 million (USD 268.1m) in syndicated debt financing that provides it with more cash on hand to install more generation capacity as it expands across Europe.
The Paris-based company said on Tuesday that the debt brings the total amount of credit facilities it will have at its disposal to EUR 490 million.
The new credit line comprises a revolving debt facility, for around two-third of the overall amount, and a term loan that can be drawn for two years. With a maturity in five years, which can be extended to seven, the debt has an interest rate that is linked to the achievement of certain Environmental, Social and Governance (ESG) criteria. Apart from the term extension option, the agreement has an clause that enables Voltalia to lift the amount during the loan’s term.
The syndicate of lenders includes BNP Paribas, CACIB, Natixis, Arkea, Pireaus, La Banque Postale, CIC and Goldman Sachs.
"As in 2019 and 2021, this financing, the cost of which will be linked to the achievement of non-financial objectives, underlines our desire to pursue concrete CSR actions in the exercise of our mission: improving the global environment by promoting local development", said CEO Sebastien Clerc.
(EUR 1.0 = USD 1.072)