spot_img
Sunday, May 28, 2023
spot_img

WFW advises Sonnedix on PV plant financing and related PPA

Watson Farley & Williams has advised Sonnedix on the project financing of a photovoltaic plant with a total installed capacity of 36 MW located in Ciudad Real, Spain

-

Bankinter and Instituto de Crédito Oficial acted as lenders for the structured loan granted to the SPV owned by Sonnedix.

As part of the deal, WFW has also advised Sonnedix on the signing of a twelve-year power purchase agreement (PPA) guaranteed by Spanish ECA CESCE with leading European long steel producer Sidenor Aceros Especiales S.A.

This is the first PPA in Spain supported by the Reserve Fund for Guarantees for Electricity-intensive Entities (FERGEI) set up in 2020 by the Ministry of Industry, Trade and Tourism in collaboration with CESCE to support electricity-intensive Spanish businesses with risk coverage relating to the purchase and sale of electricity.

Sonnedix is a leading international renewable energy producer which develops, builds and operates renewable energy projects across OECD countries, with over a decade-long trajectory of sustainable growth.

The WFW Madrid Finance team that advised Sonnedix on the project financing was led by partner Rodrigo Berasategui, working closely with Senior Associate Antonio Cáneva and Associates Cheng Zhou and Diana Palazón. Regulatory partner David Diez, assisted by senior associate Héctor Suárez and associate Juan Lozano advised Sonnedix on the negotiation and execution of the PPA.

Rodrigo commented: “We are delighted to have advised long-standing firm client Sonnedix on this important and technically challenging milestone transaction for the Spanish energy markets. Our role advising on this innovative deal underpins WFW’s standing as one of the leading legal advisors for renewable energy financings both in Europe generally and Spain specifically.”

David added: “The execution of this PPA highlights the attractiveness of both of the Spanish renewable energy market to major international investors and of FERGEI’s support for bankable PPAs between renewable producers and electricity-intensive businesses.”

- Advertisement -spot_img
- Advertisement -spot_img

MOST READ NEWS

Baker McKenzie advises isEazy on acquisition of 70% stake by ProA Capital

Following the sale of 70% of its shares to the Spanish private equity fund, ProA Capital, IsEazy's objective is to internationalise the company and...

Allen & Overy and Shearman & Sterling announce merger

This merger will combine two of the world’s most prestigious law firms, leaders in their respective markets, to create an integrated global elite firm....

Lightsource bp adds managing counsel in Spain

Before joining Lightsource bp, he was the head of Legal Spain and Portugal and compliance officer at global developer BayWa r.e. Since he joined...
spot_img
spot_img
spot_img
spot_img
- Advertisement -spot_img
error: