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Apex Group supports solar plant refinancing as Facility and Security Agent

06 September 2023

Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, announces its support of the €280m refinancing for the Mula solar plant (“Mula”) in the Region of Murcia, Spain.

Mula, with an installed capacity of 494 MWp, is one of the largest photovoltaic generation projects in Europe and is owned by Northleaf Capital Partners (“Northleaf”), a global private markets investment firm, and Qualitas Energy, a global investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investment.

Northleaf and Qualitas Energy successfully closed the refinancing worth approximately €280 million for the Mula photovoltaic solar plant. The loan has been classified as “green” according to the “Green Loan Principles” established by the Loan Market Association.

Apex Group in Spain acted as the Facility and Security Agent for the transaction. Mula’s existing debt was refinanced with the participation of five financial institutions with extensive experience in providing structured finance in the renewable sector, namely: BBVA; EDC; DekaBank; Unicaja; and Bankinter.

Apex Group is a leading provider of services to capital markets transactions for a wide variety of fund structures and asset classes. Expert local teams have the in-depth understanding of the funds industry and local regulatory framework to tailor Facility and Security Agent services to suit the operational needs of individual clients.

Apex Group expanded its presence in the Spanish market in 2022 via the acquisition of Sanne Group and now employs over 80 local experts via offices in Madrid and Valencia.

Manuel Rodríguez, Regional Head of South & East Europe for Apex Group comments: “We are proud to support Northleaf Capital Partners and Qualitas Energy’s successful refinancing which has been completed despite a challenging macro-economic environment, both in capital markets and the Spanish electricity sector.”

José María Arzac, Investment Principal at Qualitas Energy adds: “We are pleased to have completed the refinancing of the Mula photovoltaic solar plant which marks a significant milestone for us and our investors. It was a pleasure to work with the knowledgeable local Apex Group team who demonstrated exceptional technical understanding, as well as the flexibility needed to support this transaction.”

About Apex Group

Apex Group Ltd., established in Bermuda in 2003, is a global financial services provider. With over 97 offices worldwide and 12,000+ employees in 39 countries, Apex Group delivers an expansive range of services to asset managers, financial institutions, private clients and family offices. The Group has continually improved and evolved its capabilities to offer a single-source solution through establishing the broadest range of services in the industry; including fund raising solutions, fund administration, digital onboarding and bank accounts, depositary, custody, super ManCo, corporate services and a pioneering ESG Ratings and Advisory solution. Apex Group’s purpose is to be more than just a financial services provider and is committed to driving positive change to address three core areas; the Environment and Climate Change, Women’s Empowerment and Economic Independence, Education and Social Mobility.


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About Northleaf Capital Partners

Northleaf Capital Partners (“Northleaf”) is a global private markets investment firm with more than US$23 billion in private equity, private credit and infrastructure commitments raised to date from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s more than 200-person team is located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York and Tokyo. Northleaf sources, evaluates and manages private markets investments, with a focus on mid-market companies and assets.

For more information on Northleaf, please visit www.northleafcapital.com

Press contact:

Nadine Cannata | nadine.cannata@northleafcapital.com |+1 416 477 6623

About Qualitas Energy

Qualitas Energy is a leading investment and management platform focused on renewable energy, energy transition, and sustainable infrastructure investment.

Since 2006, the Qualitas Energy team has managed investments of more than €11 billion in renewable energy worldwide. These investments have been deployed through five vehicles: Fotowatio / FRV, Vela Energy, QEnergy III, Q-Energy IV, and Q-Energy V.

Qualitas Energy’s existing portfolio currently holds more than 5 GW of operating and development energy assets, including more than 3 GW of wind, 1 GWp of solar PV, 242 MW of solar thermal power (CSP), 243 MW of battery, 180 MW of renewable natural gas, and 60 MW of hydroelectric power assets across Spain, Germany, the UK, Italy, Poland, and Chile.

The operating assets currently generate enough clean energy to supply more than 370,000 homes and avoid the emission of 630,000 tons of CO2, per year.

The Qualitas Energy team is composed of more than 600 professionals across nine offices in Madrid, Berlin, London, Milan, Hamburg, Wiesbaden, Trier, Warsaw, and Santiago.

Please visit qualitasenergy.com for further information.

Press contact:

Henar Hernández | henar.hernandez@qenergy.com |+34 697 11 68 72

Carlos Serrano | cserrano@harmon.es | +34 669 51 93 98

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