This is the largest UK gas generation project in over a decade.
The financing structure covers the first 540 MW of projects in the portfolio, and includes fully committed senior debt facilities and an equity bridge loan.
The transaction marks a key step in PSL’s aim to reach 5 GW of renewable capacity across Europe by 2026.
The financing will enable the development of multiple large-scale renewable energy and storage projects.
The financing, which has a maximum maturity term of 15 years, is the largest ECA-backed green loan Iberdrola has ever signed.
WFW advises junior lenders and arrangers on loan facility for US$926m acquisition of Shell’s Egyptian oil & gas portfolio4 October 2021
The assets acquired comprise Shell Egypt’s interest in 13 onshore concessions and its share in the Badr El-Din Petroleum Company.
Initially developed by GE Renewable Energy (”GE”) in partnership with Finnish developers Smart Windpower and Mincoves.
Andrew Hutcheon, Associate George Garthwaite and Trainee Sarika Parmar have written a feature article on the future of crude markets for energy sector magazine Energy, Oil & Gas.
Partner Andrew Hutcheon and Associate George Garthwaite have written an article for Law 360 exploring the world’s leading crude oil benchmark, Brent.