Friday, December 8, 2023

Clifford, WFW advise on Grenergy´s €89.5m green loan

Clifford Chance has counselled Grenergy Renovables on the closing of a green loan of €89.5 million for the financing of the Belinchón solar park in the province of Cuenca, with Watson Farley & Williams acting for NORD/LB and Bankinter


Grenergy, the listed renewable energy producer and specialist in the development, construction, and management of photovoltaic, wind, and storage projects, has closed a financing deal for the Belinchón solar farm with a green loan of €89.5 million, as the company informed the Spanish Securities and Exchange Commission (CNMV).

The agreement has been established with two banks, Norddeutsche Landesbank Girozentrale (NORD/LB) and Bankinter, and also includes other complementary credit lines for the construction and development of the park. Each of the two banks will assume half of the senior debt of approximately €44.7 million. The financing method includes debt financing for a construction term plus 19 years.

The Belinchón solar park, with 150 MW, is located in the municipality of Barajas de Melo in Cuenca. Being the second largest project built by Grenergy to date, it is already in the construction phase, will have around 230,000 photovoltaic panels, and will occupy an area of more than 300 hectares.

According to David Ruiz de Andrés, CEO of Grenergy, “this agreement ratifies the confidence of national and international banks in renewable energy, and reaffirms our leadership in green financing.”

Clifford Chance´s team was formed by partner José Guardo, senior associate Eduardo Sánchez, and lawyers Alejandro Cubillo and Gabriel Miranda.

Rodrigo Berasategui (right), Juan Vicente Barquilla (top left), Sara Estradera (top centre), Arancha Ruesta (bottom left) and Álvaro del Real (bottom centre)

WFW advised both NORD/LB and Bankinter with a Project Finance team led by partner Rodrigo Berasategui supported by senior associate Juan Vicente Barquilla and associates Sara Estradera, Arancha Ruesta and Álvaro del Real. They working closely throughout the deal with WFW teams in London and Germany led by Capital Markets partner Rob McBride and Projects & Structured Finance partner Thomas Hollenhorst respectively.

- Advertisement -spot_img
- Advertisement -spot_img


Montero Aramburu appoints head of Corporate practice in Córdoba

In his new position, Pernas will assume leadership, especially in the cross-cutting sectors of renewable energies and distribution, as part of the firm's firm...

Grant Thornton, Garrigues advise on the acquisition of Pevasa´s stake in ATUNLO

Both companies acquire the entire stake of Pevasa and split the company's capital 50/50, maintaining their commitment to the current business plan Grant Thornton, through...

L’Oréal adds Legal counsel from BAYLOS

Teresa Galgo is an expert in Intellectual Property. She started her career as an assistant lawyer at Grupo Renault and joined Bird & Bird...
- Advertisement -spot_img