CaixaBank SA: Solarpack publishes its new green financing framework, with advice from CaixaBank CIB&IB, and classifies more than 100 million euros of its positions as green

The Solarpack photovoltaic power plant

• Following the development of the Framework, Solarpack noted 100 million euros of green positions in Transaction Banking products with CaixaBank.

• Solarpack seeks to execute green finance transactions to finance projects that generate positive impact and accelerate the transition to clean and affordable energy for all.

• Solarpack’s green financing framework was validated by DNV, which acted as an independent technical expert.

• CaixaBank, through its ESG advisory service, helped Solarpack to develop its green financing framework, which integrates Solarpack’s sustainable development strategy into its financing policy.

Solarpack has designed a green financing framework to integrate its sustainability strategy into the company’s financing policy. To do this, it was advised by CaixaBank CIB&IB, which since this year has been offering an ESG advisory service for companies and institutions.

The Green Finance Framework describes how Solarpack intends to execute financial transactions qualified as green finance, to develop projects that generate a positive impact and accelerate the transition towards clean and affordable energy for all, in accordance with its corporate purpose.

The objective of the Green Finance Framework is to ensure positive environmental impact through corporate finance, in accordance with the Green Bond Principles published by the International Capital Market Association and the Green Lending Principles published by the Loan Market Association (LMA), as applicable in each case. DNV GL Business Assurance España SL has been tasked with ensuring the alignment of the framework with these Principles.

“This green financing framework further reinforces our commitment to the environment at an important time when we need to accelerate the energy transition towards a circular and low-carbon economy model,” said Pablo Burgos, CEO of Solarpack.

Thanks to the efficiency provided by this Framework, Solarpack and CaixaBank have green rated positions in guarantee facilities and commercial risks, credit accounts and reverse factoring, for a volume exceeding 100 million euros.

Solarpack also has a total volume of these products of 520 million euros (including CaixaBank’s 100 million euros) and its objective is to assess 1 billion euros of green financing in 2023.

CaixaBank’s ESG advisory service

CaixaBank’s ESG advisory service aims to help its corporate and institutional clients analyze and establish a sustainable strategy and positioning. With this advisory service, CaixaBank seeks to support its clients’ transition to carbon neutrality and guide them in their processes of adapting, understanding and setting sustainable short and long-term goals. term. Since the Paris Agreement of 2015, a series of regulatory steps and a push for sustainability have emerged, emphasizing the need to decarbonize on a global scale in order to ensure sustainability at all levels. This paradigm shift to transition to a low-carbon economy poses an ambitious and complex challenge. CaixaBank, as a financial institution, assumes its role as a financing channel and promotes investment with the aim of helping its customers to become carbon neutral. Through its CIB&IB Structured Finance – Sustainable Finance department, it provides its clients with an ESG advisory process to help them develop a comprehensive sustainable development plan and adapt their finances to the specific needs of their decarbonization strategy.

About Solarpack

Solarpack is a multinational company specializing in the development, construction, marketing and operation of large-scale solar photovoltaic projects and is present in high growth markets in Europe, North America, Latin America, Asia and in Africa. Since its establishment in 2005, the company has developed solar photovoltaic power plants representing a total capacity of 1,151 MW and has built 894 MW on a turnkey or EPC (engineering, procurement and construction) basis. Currently, the company produces energy through 19 projects totaling 671 MW in Spain, Chile, Peru, India and Malaysia. In addition, Solarpack operates and maintains 34 power plants with a total capacity of 916 MW and provides asset management services for a total of 741 MW of own and third-party projects. Solarpack, based in Getxo, Spain, has a diverse geographical presence and employs over 350 people in 10 countries.