Macquarie Asset Management to provide €97 million financing to Greenalia Power Spain

Macquarie Asset Management, on behalf of managed funds, has provided €97 million of debt financing to Greenalia Power Spain (“Greenalia”), an independent power producer focused exclusively on renewable energy.

Greenalia is a developer, owner and operator of renewable energy assets across Spain, Portugal and the US. The business manages a portfolio of approximately 15.5 GW, with projects in development, under construction, and in operation.¹ The projects span across a diverse range of technologies including, onshore wind, offshore wind, solar, biomass, storage and hydrogen.

The bespoke financing will support Greenalia’s Spanish renewables platform that encompasses projects across onshore wind, biomass and solar PV in some of Spain’s most favourable areas for renewable energy resource. The financing will unlock necessary capital to enhance the ongoing operations, fund construction across key sites, and accelerate the delivery of Greenalia’s broader development pipeline.

Manuel García, CEO Greenalia said: “The funds obtained with this financing will be used to accelerate and consolidate the deployment of the business plan in Spain which, together with our projects in operation and the projects currently under construction in the United States, will allow us to reach 1 GW of projects in operation in 2026.”

Gurjit Orjela, Senior Vice President at Macquarie Asset Management, said: “We believe Greenalia is well positioned for future success, having established itself as a renewables independent power producer in Spain with a diverse portfolio of green technologies and strong management team. We are delighted to provide this tailored financing solution which will support the next phase of the business’s growth through the continued build out of its development pipeline in Spain.”

This transaction comes as Spain seeks to enhance its energy security, meet rising energy demands, and as corporate and industrial customers look for decarbonisation solutions. Spain’s recently updated National Energy and Climate Plan (NECP) aims to rapidly advance renewable electricity to account for 81 per cent of the power mix by 2030², up from up from the current level of 56 per cent.³ Meeting this goal is expected to require significant scaling of renewable energy generation infrastructure.  

Macquarie Asset Management’s Credit platform has approximately €205 billion assets under management, and offers focused expertise and solutions across the liquidity, risk and return spectrums. The business also has approximately €35 billion of private credit assets under management.⁴

Macquarie Asset Management was advised by Clifford Chance Spain (Legal) and Greenalia by Cuatrecasas (Legal) and Astris Finance (Financial).

1. Greenalia, as at February 2025, includes early stage identified opportunities.
2. Enerdata, 2024
3. Red Eléctrica, 2024
4. Macquarie Asset Management, as at September 2024