WFW advises lenders on largest European CSP financing to date28 May 2021
Located in the Andalucía region and operational since 2011, the portfolio comprises two parabolic solar thermal power plants and a third using tower technology.
Located in the Andalucía region and operational since 2011, the portfolio comprises two parabolic solar thermal power plants and a third using tower technology.
Finerge is Portugal’s second-largest renewable energy producer. It operates 53 wind parks and 16 photovoltaic plants across Portugal and Spain.
This financing follows Noy Fund’s recent acquisition of a majority stake in the Olmedilla plant, on which WFW also advised. The acquisition was Noy Fund’s first investment in Spain.
The portfolio, comprising five Spanish plants currently under construction with a 50 MW nominal capacity, is located in Spain’s Albacete region.
The deal is the first in Spain to meet the solar criteria of the ICMA’s Climate Bond Standards to ensure alignment with the 2016 Paris Agreement to combat climate change.
The portfolio comprises 62 plants with a total installed capacity of 154 MW.
The financial entities involved include CaixaBank and BNP Paribas Fortis as global coordinators, bookrunners, and mandated lead arrangers (“MLAs”) for the long-term bank debt facilities.
The bonds are subject to English law and were subscribed to by two institutional investors through a private placement. They listed on the Quotation Board of the Frankfurt Stock Exchange.
The Gecama wind farm will provide clean energy to approximately 260,000 Spanish households, preventing annual emissions of approximately 150,000 tons of CO2.
With €3bn+ debt and equity investments in the solar sector, Q-Energy has developed 2 GW+ solar PV and CSP assets worldwide.
We advised Santander and Westbourne Capital, as mandated lead arranger and investor respectively, on the private placement of bonds to refinance the 11.8MW Malpartida photovoltaic plant, in Extremadura, Spain.
Naturgy is a leading multinational company in the energy sector, present in Spain and Latin America, and a pioneer in gas and electricity integration.
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