Spanish independent renewable power producer Grupo T-Solar completed a green financing worth €567.8 million.

The financing includes €34 million of senior secured class A1 bonds and €234.1 million of senior secured class A2 bonds, both due June 2038, as well as a 10-year, €299.7 million bank loan.

The company said Jan. 20 that the proceeds will be used to refinance 23 solar photovoltaic projects in Spain with a combined installed capacity of 127 MW.

Deutsche Bank and Banco Santander acted as mandated lead arrangers and global coordinators on the issuance.

Grupo T-Solar is a portfolio company of I Squared Capital Advisors LLC.