pdf-articles Ratings /ratings/en/research/pdf-articles/181109-green-evaluation-ence-energia-s-l-u-s-proposed-69-4-million-multi-tranche-capex-facility-nov-9-2018 content
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Green Evaluation: Ence Energia S.L.U.'s Proposed €69.4 Million Multi-Tranche Capex Facility, Nov. 9, 2018

Ence Energía S.L.U. is seeking to raise an expected €69.4 million to expand its biomass power generation business, through a combination of a second green debt facility and notes issuance. In November 2017, Ence Energía borrowed €220 million through its first green facility, which scored 79, representing an E1 on S&P Global Ratings' Green Evaluation scale. Ence Energía will use €60 million of the proceeds from this additional €69.4 million to finance part of the construction of a new 46MW biomass power plant in Puertollano, CastillaLa Mancha, Central Spain. The remaining €9.4 million will be used to finance the upgrade of a small plant in La Loma. Ence Energía is the renewable energy division of Ence Energía y Celulosa S.A., one of the largest producers of eucalyptus pulp in Europe and a prominent Spanish biomass energy producer.

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