ENSO Energy Environment & Sustainability has secured €165 million in financing to develop two greenfield biomass plants in Spain, which will supply thermal and electrical energy to major industrial customers under long-term contracts.
The plants, now under construction, will serve the Sociedad Cooperativa General Agropecuaria ACOR in Olmedo and international chemical group Solvay’s facility in Torrelavega.
ENSO said the projects will deliver substantial efficiency gains and cut greenhouse gas emissions by more than 400,000 tonnes of CO₂ annually.
The financing was arranged by MUFG, Santander, Natixis Corporate & Investment Banking, Bank of America and Cajamar, with Santander acting as coordinator.
ENSO’s majority shareholder, Igneo Infrastructure Partners, also supported the transaction.
Elías Hernandez, Managing Director of ENSO Group, said it was “an honour to welcome the new group of lenders as key financial partners of the ENSO Group”.
He added: “This transaction is the result of a collective effort by the entire ENSO team, and we are very pleased with the outcome. Our focus now is to complete construction on the Solvay and ACOR projects, alongside the other developments already underway. We remain fully committed to delivering decarbonised energy solutions to major industrial players across Iberia.”
Alessandro Valenti, Managing Director and Head of Finance at Igneo Infrastructure Partners, said: “We are delighted to have the support of a strong group of top-tier lenders for this transaction. This financing represents a significant milestone in ENSO’s growth strategy to decarbonise thermal and electrical energy demand for industrial clients. The work delivered by the team has been outstanding.”
ENSO secures €165m financing for two biomass plants in Spain
