Noy Infrastructure & Energy Investment Fund (Noy Fund) has secured a project financing of the 169 MW Olmedilla photovoltaic plant. Watson Farley & Williams (WFW) has advised Noy Fund on the financing as well as on all the project agreements, including, among others, the Engineering, Procurement and Construction (EPC), Operation & Maintenance (O&M), and the Management Services agreements.
The Olmedilla plant, located in the Spanish province of Cuenca, is currently under development and is expected to become operational by 2022.
Bankia, S.A. and Banco de Sabadell, S.A acted as financing entities for the EUR71.5 million (US$86.95 million) structured loan granted to Olmedilla Hive, S.L, the SPV managed by Noy Fund. plant, on which WFW also advised. The acquisition was Noy Fund’s first investment in Spain.
