The financing granted to Ence for the acquisition of its solar thermal plant in Puertollano (Ciudad Real), “Termollano”, has been recognized for its sustainability through the Green Evaluation or Green Evaluation published by Standard & Poor’s (S & P), which gives it a grade of E1 / 85, located in the highest band of these ratings.
S & P’s Green Evaluation offers a classification regarding the ecological impact of the instruments used to finance projects. It is not, therefore, a credit rating, but measures the environmental effects of projects financed through different instruments, such as green bonds, bank credit portfolios or capital structures.
The final score obtained by Ence is the result of a high score in relation to Mitigation of Climate Change, combined with scores above the average in Governance and Transparency. The overall result supposes, in short, a recognition of the company’s environmental contribution through this operation.
In its publication, the rating agency identifies Ence Energía, the renewable energy division of the Ence Group, as a pure producer of renewable energy and points it out as the largest biomass operator in Spain. In addition, the agency highlights Ence Energía’s intention to diversify its portfolio towards new sources of renewable energy, beyond biomass plants.
This is the third green financing achieved by the company, this time of 109.6 million euros in three tranches of bank loans, destined to the acquisition of 90% of this 50 megawatt (MW) solar thermal plant in Puertollano. The remaining participation, of 10%, will remain in the hands of IDAE (Institute for the Diversification and Saving of Energy).
Previously, the company already obtained 69.4 million euros and 220 million euros in 2018 and in 2017, respectively, to finance its expansion of the biomass energy business.