December 11 (SeeNews) - Spanish engineering and construction group Isolux Corsan expects to close the refinancing of EUR 600 million (USD 656.5m) debt of its solar power subsidiary T-Solar by year-end, Europa Press said Friday, citing sources from the group.
The refinancing will extend the debt with a group of banks by six years in line with current sector rules and will facilitate the sale of T-Solar. The company has photovoltaic power plants with a combined capacity of 326 MW in eight countries. Most of the plants are located in Spain and were affected by the energy reform.
Isolux expects to pocket EUR 600 million to EUR 700 million from the sale of T-Solar and 3,842 km (2,387 miles) of transmission lines in Brazil.
(EUR 1 = USD 1.094)