Power announced today that they have reached financial close with National Australia Bank (NAB) on the financing of sPower's UK portfolio of operating solar assets. The senior loan of nearly $48 million is for four sPower owned and operated solar parks (33.5MW in total) supported by the RO scheme.
"The deal with NAB provides sPower with access to flexible and attractive capital," said Ryan Creamer, sPower CEO. "We're pleased to have the support of NAB, a top financial institution showing strong commitment to funding renewable energy projects."
"sPower and NAB fostered a strong working relationship based on trust and innovation to get the transaction over the line. It was a pleasure to work with a group of ‘can do' entrepreneurs," said Simon Middleton of Elgar Middleton.