Greenalia Secures $200 Million of 3-Year Credit Facilities

Financing supports Greenalia's push into the U.S. market and buildout of its 1.9 GW ERCOT renewables pipeline

NEW YORK, Feb. 16, 2024 /PRNewswire/ -- Greenalia S.A. (the "Company" or "Greenalia"), a leading Spanish developer of renewable power projects, today announced the close of $200 million of three-year credit facilities to support the development of its solar and wind project pipeline in the U.S. Greenalia Power US Advanced II, LLC ("Greenalia US" or the "Borrower") is a subsidiary of Greenalia that acquires, develops, constructs and operates utility-scale solar, wind and energy storage projects in the U.S.

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Nomura Securities International, Inc. led the financing and acted as Sole Underwriter, Lead Arranger and Bookrunner of the Facilities.

PEI Global Partners served as Exclusive Financial Advisor to the Company. Holland & Knight acted as Borrower's Counsel. Norton Rose Fulbright acted as Lenders' Counsel.

The Facilities are the first for Greenalia in the North American market and are a testament to Greenalia's rapid growth in the United States. Proceeds from the Facilities will enable Greenalia US to finance project equipment, as well as other development and construction expenses, helping to accelerate the development of its portfolio.

"This operation represents an important milestone for the company's US expansion, where we are currently developing a 3GW portfolio diversified through projects in three technologies -solar, wind and batteries. We want to thank Nomura for the trust and confidence on Greenalia project and all PEI team for the exceptional support and advice," said Antonio Fernández-Montells, CFO of Greenalia S.A.

"We are excited to partner with Greenalia and believe this partnership will help unlock the full potential of Greenalia's impressive renewable energy project development platform in the US. This financing is emblematic of our strategy of providing customized financing to leading renewable power generation assets and transition-enabling infrastructure," said Vinod Mukani, Head of Nomura Infrastructure & Power Business ("IPB").

"This transaction represents a remarkable milestone for Greenalia. This innovative financing will enable Greenalia to scale up their US business across multiple technologies. As a market leader in providing financing solutions to developers within the renewable and energy space, we are thrilled to support Greenalia's global growth strategy within the energy transition," said Alain Halimi, Managing Director of Nomura's IPB.

"We are excited to support Greenalia in expanding their operations within the U.S. Our innovative pre-NTP capital solution is designed to meet Greenalia's development capital needs across an extensive range of projects and technologies including Letters of Credit, equipment costs and other development expenses. This tailored structure, combining both bank and private credit capital, is poised to significantly advance Greenalia's project pipeline in the coming years," said Schuyler Fabian, Partner at PEI Global Partners ("PEI").

About Greenalia S.A.

Greenalia S.A. is a global renewable focused IPP and the parent company of Greenalia Power US Advanced II, LLC. The company uses wind, sun, and forestry biomass from certified plantations' remains to generate and store energy in harmony with nature, providing employment and innovation across Europe and the United States. The company's main activity is the generation of renewable energy, being present in six technologies: onshore wind, offshore wind, solar, biomass, storage and hydrogen.

About PEI

PEI Global Partners Holdings LLC ("PEI") is an independent, closely held investment bank specializing in the power, energy, and infrastructure sectors, with offices in New York City and Tampa. PEI advises financial sponsors, developers and corporate clients on mergers and acquisitions, divestitures, financings, private placements, and other strategic transactions. In 2023, PEI completed 13 transactions totaling over $3.9 billion for owners and developers of renewable and thermal power. PEI conducts securities transactions through its wholly owned broker-dealer subsidiary PEI Global Partners LLC, which is regulated by the Financial Industry Regulatory Authority ("FINRA"), the Securities and Exchange Commission ("SEC"), the New York State Department of Financial Services and the Florida Office of Financial Regulation. For more information on PEI, please visit www.peigp.com.

About Nomura

Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.

SOURCE Greenalia