The four projects will have a total capacity of up to 200 MW and use agrivoltaic technology.
WFW carried out the vendor’s due diligence process and the drafting and negotiation of the sale and purchase agreement.
This is one of the largest solar portfolio development financings in Germany to date.
WFW advises IKAV on €65M pre-construction debt financing for 767 MW Spanish renewables portfolio13 July 2023
The portfolio comprises twelve wind farms and seven solar photovoltaic plants.
Photosol intends for this inaugural investment to be the first of many in the Italian market.
The administrative judge accepted WFW’s defending arguments.
The transaction involved a financing structure based on a power purchase agreement and is one of few brownfield refinancings to successfully complete to date in Spain.
Under the agreement, all the renewable energy produced by Goethe Energy’s hydroelectric plants in Italy will be purchased by GDE.
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.
WFW has been advising the sellers for several years on project development, land rights acquisition and corporate matters.