Exus Renewables has closed financing for the Cibele solar farm in Portugal. Located in the Alentejo region, the solar farm will have a peak capacity of 130MW and cover roughly 300 hectares.
Once operational, it is expected to supply clean electricity to around 69,000 Portuguese households annually, contributing to national energy independence and the sustainability of Portugal’s electricity system.
The project aligns with Exus’ growth strategy in Iberia and its aim to become a NextGen Energy Solutions provider across Europe.
It also supports Portugal’s renewable energy targets, with solar playing a central role in the country’s decarbonisation plan to reach 21GW of installed solar capacity by 2030.
“Following the successful financing of our projects in Spain and Poland, this transaction marks a key milestone as our first project financing in Portugal as a NextGen Energy Solutions provider,” said João Pedro Summavielle, Chief Financial Officer at Exus Renewables.
“Partnering with MUFG reinforces the bankability of our platform and our commitment to scaling clean energy across Europe through disciplined, high-quality development.”
Genoveva Ramon-Borja, Managing Director, Head of EU GCIB Coverage at MUFG, said: “We are delighted to have supported Exus Renewables with a flexible financing structure tailored to the requirements of the transaction.
“This new financing reinforces MUFG’s commitment to supporting the renewable energy sector in Iberia and demonstrates our capabilities in delivering a fully integrated financing package with lending, hedging, agency, and account bank services.
“We were pleased to combine our sector knowledge and tailored structuring to support our client achieve their strategic ambitions.”
Construction timelines for the Cibele solar farm have not yet been disclosed.
