Grupo T-Solar: Best Green Energy Bond Issuer Europe 2020

The sun bathes the planet with an abundance of affordable energy — and Grupo T-Solar harnesses that power at every step of the renewable energy value chain. The group was established in Spain over a decade ago and has developed a repertoire of skills that spans the spectrum of renewables expertise. Grupo T-Solar influences the renewables market as a power producer, and as an asset manager. In addition to the development, management and operation of energy projects, Grupo T-Solar is leading the charge for green financing. The group started 2020 by announcing the completion of one of the market’s larger financings: €34m and €234.1m in senior secured class A1 and A2 bonds, respectively, plus a 10-year loan of €299.7m. The transaction refinances 23 solar projects across Spain, totalling 127 megawatts (MW) of power potential. It also earned top marks — a resounding E1/80 — in Standard and Poor’s Green Evaluation, which analyses transparency, governance and mitigation of environmental impacts. Grupo T-Solar issued its first bond in 2017, totalling €118.3m, and refinancing 11 solar powerplants with a combined capacity of 34.2MW. The group operates more than 50 plants in Spain, Italy, Peru and India — and those operations stopped the emission of 216,000 tons of CO2 last year. The CFI.co judging panel notes that Grupo T-Solar has set its sights on the long term to create a sustainable business plan that enables investors to cut their carbon footprint — and reap healthy returns. The judges declare Grupo T-Solar as the winner of the 2020 award for Best Green Energy Bond Issuer (Europe).