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Friday, May 17, 2024

Simmons advises BayernLB on solar project financing

Simmons & Simmons has advised the financing parties arranged by German bank Bayerische Landesbank on a project financing for an international project developer on the financing of various solar parks on the Balearic Islands (Mallorca and Ibiza) with an expected total capacity of 96,86 MW

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The loan is documented as a syndicated loan arranged by German bank Bayerische Landesbank, which also acted as facility agent, security agent, original lender and original issuing bank.

Given the international demands of the mandate. Bayerische Landesbank was advised by a cross border German and Spanish Simmons team. This team was led by Frankfurt based Banking partner, Dr. Jens W. Gölz, supported by associate Isabel Ribeiro Mousinho and Madrid Financial Markets partner Álvaro Munoz and Energy & Infrastructure partner Juan Martinez.

Commenting on the deal, lead partner Dr. Jens W. Gölz commented: “We are very pleased to have advised on this transaction. This financing has a model character for further financings of so-lar plants on the Balearic Islands.”

Other members of the firm´s Madrid office advising on this deal were Corporate/Commercial supervising associates Alfonso Martín and Sara Moreno, along with Financial Markets associates Jorge Puyol and Álvaro García-Rivera.

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