Watson Farley & Williams (“WFW”) has advised the lenders and arrangers, comprising a syndicate of eleven Spanish and international banks, on the €732m refinancing of a 120 MW thermo-solar portfolio of three CSP plants in Spain owned by Q-Energy.
The banks acted as financing entities for the €732m structured loan granted to the SPVs owner of the plants, managed by Q-Energy. This financing follows Q-Energy’s recent acquisition of Torresol Energy from Sener and Masdar, on which WFW also acted for the lenders.
Located in the Andalucía region and operational since 2011, the portfolio comprises two parabolic solar thermal power plants and a third using tower technology.
The WFW Madrid Finance team that advised the syndicate was led by Partner Rodrigo Berasategui, working closely with Senior Associate Jacobo Hermidas and Associate María Echaniz.
Rodrigo commented: “I am very pleased to have been able to contribute to Q-Energy’s expansion plans by advising on this key financing. I would also like to thank the whole team that closed this transaction in record time, considering the high value of debt and the large number of international players involved. This matter entrenches WFW’s reputation as one of the leading law firms advising on the financing of thermo-solar projects”.
