Exus Renewables has completed financing for the Cibele solar plant, located in the Alentejo region of Portugal, with Mitsubishi UFJ Financial Group Europe, Middle East and Africa (MUFG EMEA) acting as sole mandated lead arranger, hedge provider, facility agent and account bank. The facility will have a peak capacity of 130 megawatts (MW) and will cover approximately 300 hectares. Once operational, it is expected to supply electricity to around 69,000 Portuguese households annually.
A strategic financing for Exus
This project marks Exus Renewables’ first financing operation in Portugal, following similar initiatives in Spain and Poland. The company aims to strengthen its position in the Iberian market and expand its portfolio in Europe. João Pedro Summavielle, Chief Financial Officer at Exus Renewables, stated that this transaction represents “a key milestone” in the company’s growth strategy.
MUFG EMEA, a central role
MUFG EMEA structured a financing arrangement incorporating lending, hedging, facility management and account banking services. Genoveva Ramon-Borja, Managing Director and Head of Global Corporate and Investment Banking (GCIB) Coverage for the European Union, noted that this transaction reflects the group’s commitment to the energy sector in the Iberian Peninsula.
A project aligned with national energy targets
Portugal aims to reach 21 gigawatts (GW) of installed solar capacity by 2030, with the Cibele plant contributing to this goal. Its location in the Alentejo region, which benefits from high solar irradiation, optimises the expected yield of the site. Exus Renewables views this project as a key driver to increase its presence in Europe while reinforcing the financial viability of its platform.
