Australia’s Macquarie Asset Management, acting on behalf of its managed funds, has extended €97 million ( US$100 million ) in debt financing to Greenalia Power Spain ( Greenalia ), an independent renewable energy producer.

This financing aims to support the energy producer’s Spanish renewables platform, which includes onshore wind, biomass and solar photovoltaic projects in some of Spain’s most resource-rich regions for clean energy.

It operates across Spain, Portugal and the US, managing a pipeline of approximately 15.5 gigawatts ( GW ), spanning onshore and offshore wind, solar, biomass, storage and hydrogen. The investment will help fund ongoing operations, construction and the acceleration of its broader development pipeline.

Macquarie AM’s credit platform, which manages approximately €205 billion ( US$212 billion ) in assets, also has a private credit portfolio of €35 billion, providing tailored solutions across liquidity, risk and return spectrums.

This transaction aligns with Spain’s ambitious renewable energy goals, as outlined in its recently updated National Energy and Climate Plan, which aims to boost renewable electricity generation to 81% of the power mix by 2030, up from the current 56%.

“Greenalia is well positioned for future success, having established itself as a renewables independent power producer in Spain with a diverse portfolio of green technologies and a strong management team,” says Gurjit Orjela, Macquarie AM’s senior vice-president. “This tailored financing solution will support the next phase of the business’ growth through the continued buildout of its development pipeline in Spain.”

Manuel García, CEO of Greenalia, adds: “The funds obtained with this financing will be used to accelerate and consolidate the deployment of the business plan in Spain, which, together with our projects in operation, and the projects currently under construction in the United States, will allow us to reach 1GW of projects in operation by 2026.”