WFW advises banks on €283m PV refinancing

Watson Farley & Williams has counselled a syndicate of banks comprising Banco Santander, BNP Paribas, and Caixabank, on €283 million refinancing of a 49.9 MW solar thermal plant in Fuente Palmera, Cordoba

The banks have participated as lenders in the €283 million structured loan granted to the SPV that owns the plant, managed by Q-energy. This financing follows Q-Energy’s recent refinancing of a 120 MW Spanish solar thermal portfolio of three CSP plants and its recent acquisition of Torresol Energy from Sener and Masdar, on which the WFW team also advised the lenders.

The WFW Madrid team advising the banking syndicate was led by Banking and Finance partner Rodrigo Berasategui (pictured left) supported by senior associate Jacobo Hermidas (pictured top right) and associate María Echaniz (pictured bottom right).

Rodrigo commented: “I am very pleased to have been able to assist Q-Energy in their expansion plans by advising them once again on key financing. This matter consolidates WFW’s reputation as one of the leading law firms advising on the financing of solar thermal projects in Spain.”