Operis provided financial model audit services in support of Encavis’s €135 million non-recourse project financing, completed to fund the acquisition of a diversified renewable energy portfolio in Spain.
The portfolio comprises a combination of onshore wind and solar photovoltaic assets, with a total installed capacity of 199 MW. The financing was provided by a consortium of international lenders and structured and arranged by ENCAVIS’s in-house project finance team.
The financing package includes a long-term term loan facility, together with a debt service reserve facility (DSRF) of 5 million euros, and an LC facility of 13 million euros, supporting the acquisition and long-term operation of the portfolio.
Operis worked closely with ENCAVIS to deliver an independent review of the financial model, providing assurance for ENCAVIS and the financing parties on the robustness of the financial structure and supporting the successful completion of the transaction.
This transaction further demonstrates Operis’s extensive experience supporting renewable energy financings across Europe, delivering independent financial model audit services for complex, long-term project finance structures.
