B&B advises Macquarie Bank on Spanish wind farms financing

Bird & Bird has advised Macquarie Bank International Ltd. on the financing of two operating wind farms in Spain

Bird & Bird LLP advised Macquarie Bank International Limited on the financing of a Spanish holding company owned by the leading independent infrastructure and Private Equity investor Foresight Group. The transaction reached financial close on 13 August 2020.

The proceeds of the Macquarie loan were used to help fund the acquisition of two operating wind farms in Spain, with a total capacity of 93.6 MW.

Bird & Bird advised Macquarie on all aspects of the financing and security of the projects through a combined team based in London and Madrid, since the loan agreement is subject to English law and the guarantee package is subject to Spanish law. The Madrid team was led by partner and head of the Energy and Utilities team Hermenegildo Altozano (pictured), assisted by senior associate Emilio Martinez and associate Belen Alvarez de Miranda.

“This operation shows that Bird & Bird is one of the main legal players in transactions in the Energy sector and that the Renewable Energy sector concentrates a large part of the Finance and M&A operations in Spain and in other jurisdictions around us,” Hermenegildo Altozano said.