MUFG and Nomura Announce $388M Financing for Greenalia's Texas Solar Park

NEW YORK, April 3, 2025 /PRNewswire/ -- Mitsubishi UFJ Financial Group (MUFG) and Nomura Securities International, Inc. (Nomura), proudly announce an agreement with Greenalia S.A. (Greenalia) to provide a $295 million construction-to-term loan and $93 million letter of credit (LC) facility for Misae Solar Park II (Misae II). Misae II is the first US development from Greenalia, a top Spanish developer of renewable power projects.

MUFG and Nomura both acted as CLA and Bookrunner, with MUFG additionally acting as Administrative Agent.

"We're thrilled to support Greenalia by leading this complex and successful transaction," said Louise Pesce, Managing Director, Project Finance at MUFG. "Greenalia's innovation and MUFG's expertise will help the state of Texas increase energy capacity with renewable solar power."

Global Head of Nomura's Infrastructure & Power Business ("IPB"), Vinod Mukani, stated that "Nomura is thrilled to strategically partner with Greenalia to provide tailored capital solutions through bespoke structuring, unlocking risk-adjusted returns for all partners in the build-out of this landmark project. We are excited to support execution and development of Greenalia' s broader portfolio to meet strong renewable energy demand."

Alain Halimi, Managing Director, Nomura IPB, added, "Nomura is pleased to once again support Greenalia, this time for their inaugural Misae II solar project in Texas. Our partnership with Greenalia demonstrates Nomura's commitment to provide tailored strategic financing solutions to leading renewable energy developers."

"This transaction is a major step for Greenalia's US expansion," said Manuel Garcia, CEO of Greenalia S.A. "With the help of MUFG and Nomura, we are on track to reach 1 GW of operational projects by 2026."

"This financing represents a key milestone in the execution of the company's business plan, and in particular, the objectives established for its US business. This transaction demonstrates the evolution of the Greenalia group, covering the capital needs necessary for the launch of the projects currently under construction", said Antonio Fernandez-Montells, CFO of Greenalia S.A.

Misae II will be one of the largest developments in Texas, covering 3,970 acres in Childress County for a 430 MW-DC / 331.6 MW-AC photovoltaic development. It is expected to achieve COD in Q3 2025.

Misae II benefits from two ERCOT West-settled PPAs for 65% of its energy output and RECs. The remaining 35% of its energy will be sold into the merchant ERCOT market. In addition, Misae II has executed a fixed-price PTC Transfer Agreement and a separate fixed-price agreement for 40% of the Project's RECs.

About MUFG and MUFG Americas
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 50 countries. MUFG has nearly 160,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to be "the world's most trusted financial group" through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges.

MUFG's Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest foreign banking organizations in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit www.mufgamericas.com.

Media Contact:
Benjamin Glaser
bglaser@us.mufg.jp

About Nomura
Nomura is global financial services group with an integral network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com

About Greenalia
Greenalia S.A. is a global IPP focused on renewable energy. The company uses wind, solar, and forest biomass from certified plantation residues to generate and store energy in harmony with nature, providing employment and innovation in Europe and the United States. The company's core business is renewable energy generation, with operations in six technologies: onshore wind, offshore wind, solar, biomass, storage, and hydrogen.

For further information about Nomura, visit www.greenalia.es

SOURCE MUFG Bank, Ltd.