The bank acted as lender for a structured loan granted to the three SPVs that own the plants. The SPVs are owned by Foresight Solar Fund Limited (FSFL), a listed entity managed by Foresight Group.
Munich-based BayernLB is one of Germany’s five publicly regulated Landesbanken. Majority-owned by the State of Bavaria, it is Germany’s seventh-largest financial institution. Foresight is a leading integrated British energy company with a global presence and a strong commitment to reducing greenhouse emissions.
The WFW Madrid Finance team that advised BayernLB was led by partner Rodrigo Berasategui, working closely with senior associate Antonio Cáneva and associate Sara Estradera.
Rodrigo commented: “We are delighted to have advised long-standing firm client BayernLB on this portfolio financing. Our role in this transaction underpins WFW’s standing as one of the leading legal advisors for finance work in the renewable energy space in Europe and, in particular, in the Spanish market.”
As informed by Legal Dealmaker on March 29, Osborne Clarke advised Foresight on this deal.