Atlantica Yield plc:

Atlantica Closes a Green Project Finance

May 7, 2020 – Atlantica Yield plc (NASDAQ: AY) (“Atlantica”), the sustainable infrastructure company that owns a diversified portfolio of contracted assets in the energy and environment sectors, announced today that a subsidiary holding company of certain  solar assets in Spain has closed a green project financing agreement with ING Bank, B.V. and Banco Santander S.A.

This new non-recourse financing has resulted in net proceeds for Atlantica of approximately $143 million, net of transaction costs and reserves. The project debt agreements in each of the four assets remain in-place unaltered. Atlantica expects to use the proceeds to finance new investments in renewable assets.

"With the closing of this Green Loan, Atlantica has strengthened its financial position by leveraging once again its commitment to ESG. This new project financing will allow us to continue executing our growth plan while we limit our corporate debt” said Santiago Seage, Atlantica’s CEO.

The Green Finance was issued in compliance with 2018 Green Loan Principles. The methodology for the fund allocation process is defined in the “Framework” designed for green finance issuances and it is available in Atlantica’s website. The issuance was made with the support of an unqualified Second Party Opinion delivered by Sustainalytics, also published in Atlantica’s website.

ING Bank N.V. and Banco Santander, S.A. acted as Lenders, Bookrunners and Mandated Lead Arrangers to the transaction. ING also acted as Global Coordinator and Green Coordinator.

About Atlantica

Atlantica Yield plc is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, efficient natural gas, electric transmission and water assets in North and South America, and certain markets in EMEA (www.atlanticayield.com).