WFW advises on Santander CIB Cesce-backed financing for Greening Group

Watson Farley & Williams has advised on a loan granted by Santander CIB to Greening Group for the construction and development of 148 roof-mounted and ground self-consumption photovoltaic units at poultry processing facilities owned by the Bachoco group in Mexico.

The financing was backed by Spanish ECA Cesce as part of the Spanish government’s support for projects contributing to the fight against climate change. This is the first Cesce-backed green financing Greening Group has subscribed.

Greening Group was founded in 2011 as a spin-off of the University of Granada with a remit to  bring public and private companies together to promote the use of renewable energy through the design and construction of industrial self-consumption facilities, solar water pumping and development of energy efficiency projects around the world.

The WFW Madrid Finance team was led by partner Rodrigo Berasategui, working closely with associates Antón Ramil and Álvaro del Real. WFW was supported on this cross-border deal by local law firm Goodrich, Riquelme y Asociados.