Green Bond Fact Sheet

Arclight Solar

Date: 31/07/2020

Issue date: 05-06-2020 Maturity date: n/a Tenor: n/aIssuer name

Arclight Solar

Amount issued

USD48mCountry of riskSpainCBI Database

IncludedIssuer type1

Non-FinancialCorporate

Bond type

N/A

Green bond framework

N/A

Second party opinion

N/A

Certification Standard

Not certified

Assurance report

N/A

Certification verifier

N/AGreen bond rating

E1/80 S&P Global Ratings☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission
vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

The issuer will commit to regular allocation and impact reporting.
Arclight manages a portfolio of assets that generate clean electricity from solar farms
across Spain and Italy. Revenues derive from a combination of market prices andgovernment backed enticements. All management is provided by Quintas Energy, thelargest asset manager of solar farms in Europe.

Firsts, records andcertifications
Proceeds description

The proceeds will be used to refinance 8 solar PV projects which have been in operation
since 2008. Arclight Solar will allocate the net proceeds to two holding companies and thevarious project entity SPVs via a succession of on-loan agreements. In turn, this will use theproceeds to repay on loans with the objective of cancelling existing debt, in addition tofinancing a recapitalisation, as well as associated refinancing expenses and standard
account reserve funding.

Climate Bonds view

Whilst solar PV electricity generation has a typically shorter asset life than otherrenewables such as hydropower, it is one of the most effective assets in contributing to thesystematic decarbonisation of the economy. It is a greatly welcomed issuance into theEuropean market.

Underwriters
Deal comments
Credit rating
Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign