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WFW advises on the project financing of Villar Mir Energía sponsored wind park30 May 2019

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Watson Farley & Williams (“WFW”) advised RIVE Private Investment (“RIVE”) on the project financing of the 12 MW Tablares wind park in Zaragoza, Spain. The deal closed on 6 May 2019, following signing on 12 April 2019.

The wind park, which is owned by Spanish energy Company Villar Mir Energía, is under construction and goes live in Q1 2020. It is of the “merchant” type, being without subsidy or premium.

The financing was arranged via the issuance of private bonds by FCT QUARTZ, managed by RIVE. Triodos Bank provided part of the financing through a project finance structure.

RIVE targets investment opportunities in direct lending, assets and mezzanine debt financing in the renewables sector, mainly across Europe and North America. WFW previously advised RIVE on the project financing of the Valiente and Sotillo wind parks, with a combined installed capacity of 35 MW and also in Zaragoza, in January 2019.

The WFW Madrid Finance team advising Rive was led by Partner Rodrigo Berasategui, working closely with Senior Associate Alvaro Barro.

Rodrigo commented: “It was a pleasure to advise RIVE on a complex and successful transaction where we were able to bring our bond and equity financing expertise to bear on their behalf. Its successful closing also demonstrates the confidence and growing interest of international investors in the Spanish renewables sector”.

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