Guadalta closes refinancing of solar farms in Spain

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Guadalta closes refinancing of solar farms in Spain

Watson Farley & Williams, an International law firm, has recently announced that it has advised Liberbank as agent to the financing consortium on the €50 million (US$56.5 million) financial restructuring of two Spanish photovoltaic plants owned by energy producer Guadalta, a subsidiary of leading international energy developer Grupo Naturener.

The two parks, with an aggregated capacity of 7.5 MW, are located in the municipalities of Manzanares and Almuradiel in Ciudad Real province, Spain.

The 2.5 MW solar photovoltaic farm located in the municipality of Almuradiel started commercial operations in June 2008. The model and type of module are Sunpower, Yingli (mono and polycrystalline), while the class of inverters are Siemens Sinvert 100 M (100kW).

The 5 MW solar PV farm located in the municipality of Manzanares started commercial operations also in 2008 and it was developed by Grupo Ascia.

The financing consortium comprises the following seven Spanish, German, Japanese and Belgian banks: KfW IPEX-Bank, Portigon, Landesbank Hessen-Thüringen Girozentrale (Helaba), Novo Banco, Sumitomo Mitsui Banking Corporation, KBC Bank, with Liberbank (former Banco de Castilla la Mancha) acting as agent.

The Madrid-based team of Watson Farley & Williams advising the banks was led by Spain Managing Partner María Pilar García Guijarro, assisted by senior finance associates José María Anarte and Esther González, and associate Jacobo Hermidas. Partner David Diez advised on regulatory matters, and partner Luis Soto on the tax aspects of the transaction.

María Pilar García Guijarro, Watson Farley & Williams Spain Managing Partner, commented:

“Advising on a transaction involving such a wide variety of banks is a clear demonstration of WFW’s ability to successfully act on complex deals of this kind. This year, we have acted as lead adviser on some of the largest and most high profile sector restructurings such as those of T-Solar’s renewables portfolio Tuinn Zone, Olivento and Renovalia, confirming our position as the go to law firm in the Spanish renewable energy sector”.

List of country news

Country news

  • April 26, 2016

    Lancashire Pension Fund acquires stake in Red Madrileña de Gas

    The Lancashire County Pension Fund (LCPF), one of the largest schemes in the UK Local Government Pension Scheme (LGPS), has acquired a 12.5% equity stake in Madrileña Red de Gas (MRG), a gas distribution company in Spain’s Madrid region. Read more
  • April 22, 2016

    Abengoa continues its divestment plan with the sale of four photovoltaic plants

    Abengoa, an international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, has sold Vela Energy four photovoltaic plants located in the provinces of Seville and Jaen. The agreement, implies a debt reduction of US$71 million and a net cash inflow of US$17,2 million. Read more
  • April 07, 2016

    Nordex closes acquisition of Acciona Windpower

    Nordex has acquired Corporación Acciona Windpower S.L. from Acciona S.A. to form a new major player in the wind industry. Read more
  • March 30, 2016

    Bidders line-up for Spain’s T-Solar

    Several investment firms and strategic buyers are interested in the sale of Isolux's solar power subsidiary T-Solar, which was put up for sale seven months ago. Read more
  • March 30, 2016

    Majority of lenders greenlight Abengoa’s standstill contract

    Abengoa has recently presented the homologation of the standstill contract which has garnered support from 75.04 % of the company's lenders. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.