Exus Renewables Completed Financing for 130MW Solar Project in Portugal

Exus Renewables secured financing from MUFG Bank’s European arm for a 130MW solar PV project in Portugal’s Alentejo region. MUFG acted as Sole Mandated Lead Arranger, Hedge Provider, Facility Agent, and Account Bank, though the investment amount was undisclosed.

The Cibele project, spanning 300 hectares, was acquired by Exus from Lightsource bp earlier this year and is scheduled to begin operations in 2025. Exus indicated potential co-location of wind power at the site.

Portugal aims to reach 21GW of solar capacity by 2030. Exus holds over 2.5GW of renewable capacity across six European countries and manages around 5.2GW renewable energy projects, including 760MW in Portugal, primarily solar PV. Its other key markets are Spain, Italy, and Poland, each with over 1GW capacity.