Greenalia signs Curtis-Teixeiro biomass project debt

Greenalia has signed a €125 million ($146 million) project loan for its 50MW Curtis-Teixeiro forest-waste-fuelled biomass project in Coruna, Spain. Structured via borrowing vehicle Greenalia Biomass Power Curtis-Teixeiro, the debt is split between a €50 million senior tranche provided by Banco Santander (agent and coordinating bank) and ICO, a €50 million EIB direct loan, and a mezzanine tranche from Marguerite Fund. The project is the first biomass plant to be financed by the EIB under the European Investment Plan. The scheme is expected to be commercially operational in 2020.