Greenalia closes MISAE II solar project’s financing and strengthens its presence in the US
- Greenalia completes a new strategic milestone in the United States for the construction of MISAE II (430 MWs) in Texas.
Greenalia reaches a new key milestone in its international expansion with the financial closing of the 430 MW MISAE II solar photovoltaic project in Texas, United States. The company has secured 383 million euros, with the participation of MUFG and Nomura Securities International, INC. as main financiers of the project finance transaction. In addition, it has closed a long-term green loan worth 122.7 million dollars, with the participation of Nomura and Barclays Ireland as financing entities and with coverage from CESCE under its Green Investment Policy, thus guaranteeing state support for the operation.
MISAE II will have an installed capacity of 430 MW and will be located on a 1,000 hectares plot. Once in operation, the park will generate 865 GWh per year, consolidating itself as a benchmark in clean energy production in North America. The project, which has currently completed 72% of its construction, is initially scheduled to export energy in 2025.
The project has several PPA (Power Purchase Agreement) agreements for the sale of long-term energy, including two with Toyota subsidiaries, in total, the contracts will cover 65% of production, and a PTC (Production Tax Credit) agreement with an american corporation. The proceeds from these contracts will allow us to reach an EBITDA of approximately 50 million dollars per year.
With this step, Greenalia strengthens its presence in the United States and advances in its goal of adding an additional 740 MW in 2026, raising its capacity in operation in that year to 864 MW.
Manuel García Pardo, CEO of Greenalia, highlighted:
“The financial close of MISAE II marks a key milestone for our company. Not only did we secure the necessary funds for the start-up of our first major project in the United States, but we also reaffirmed our commitment to sustainable growth, based on renewable energies and financing structured under the highest quality standards in the market.”
This project represents a significant step in Greenalia’s consolidation as a relevant player in the U.S. energy market, aligned with its expansion strategy and commitment to the global energy transition.