The company plans to use the facility to finance photovoltaic, wind and hydro power plant development projects and prospective acquisitions in Italy, France Turkey, Albania and Chile.
The company said that the proceeds of this loan will principally be utilized to finance the equity portion of the first projects from its existing pipeline as well as to cover some of its operational expenses and pre-development costs.
The loan, which is being made available to the company for a period of 10 years, will be secured by the assets of each special purpose subsidiary holding company.
The agreement comes as part of CR&P and its Abu Dhabi based investment partners, to grow the group business globally within the renewable energy sector.
