Saeta Yield Closes €340 million Refinancing in Portugal and Secures €200 Million Corporate Credit Facility to Fund Next Phase of Growth
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Saeta Yield, a Masdar company, closes the €340 million refinancing of clean energy assets in Portugal with range of lenders to repower and expand its wind portfolio in Portugal.
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Includes the potential to hybridize with 110MW of solar, marking Saeta Yield’s first repowering and hybridization initiative.
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Saeta Yield also signed €200 million revolving credit facility (RCF) to provide financial flexibility and finance projected growth.
Saeta Yield, a Masdar company, today announced it has successfully closed the €340 million refinancing of clean energy assets in Portugal, and has secured a €200 million RCF in Spain, as it looks to grow its project footprint and execute its expansion strategy.
The debt refinancing comprises €340 million of senior loan facilities, maturing at the end of 2041. The refinancing was heavily oversubscribed, reflecting strong support from the market, and confidence in Saeta Yield’s growth strategy and capabilities. Participating financial institutions include ING, which also acted as financial advisor, Bank of America, BBVA, Crédit Agricole CIB, DWS and Millennium investment banking.
Saeta Yield is expanding the Portugal project capacity from 124 megawatts (MW) of wind power to 144MW, with the potential addition of 110MW of solar capacity, which would make it the company’s first repowering and hybridization initiative. This upgraded pathway will serve as a blueprint for future asset modernizations, unlocking additional renewable energy generation and improved availability across the portfolio.
Mohamed Jameel Al Ramahi, Chief Executive Officer at Masdar, said:
Our commitment to scaling high-quality renewable projects that accelerate Europe’s energy transformation is unwavering. The strong participation from leading financial institutions underscores confidence in Saeta’s capabilities and our growth strategy. We will continue to mobilize capital and expertise to expand Saeta’s footprint and contribute to secure, sustainable energy systems in the region.
Álvaro Pérez de Lema de la Mata, Managing Director at Saeta Yield, commented:
Finalizing the refinancing of these wind and solar assets alongside a new revolving facility gives us the right tools to execute our growth plan with speed and discipline. We are doubling down on repowering and hybridization projects that deliver reliable, affordable clean power and enhance our operational performance. These initiatives will better position Saeta to advance our high-quality project pipeline and execute on our expansion strategy, as we embark on our next phase of growth, as part of the Masdar family.
Additionally, Saeta Yield has also signed a €200 million RCF with a 3-year maturity, extendable to 5 years, to provide financial flexibility to support projected growth. The financing is supported by a syndicate of leading banks comprising Santander CIB, BBVA, Crédit Agricole CIB, Commercial Bank of Dubai, ING, Intesa Sanpaolo, SMBC and Société Générale.
Masdar, a global clean energy leader, is looking to expand in the Iberian Peninsula and across Europe as the company targets portfolio capacity of 100 gigawatts (GW) worldwide by 2030. This March, Saeta closed an investment agreement for the construction and commissioning of a 234MW solar project in Valencia, with a potential battery energy storage system (BESS) hybridization of 259MW.
