EY Abogados advises AGR BIOGAS on the €25m financing of a biomethane plant in Andalusia
EY Abogados has advised AGR BIOGAS on the financing of a biomethane plant in Andalusia The project consists of an approximate investment of €25 million, with almost €20 million provided by project finance granted by ING Bank.
It is the first biomethane project financed under this modality in Spain, marking a milestone in the Spanish energy market and complying with the strategic plan announced by AGR in July 2023.
The plant, located in the municipality of La Calahorra (Granada) will have a total treatment capacity of approximately 100,000 tons per year, which will be mainly of livestock and olive origin feedstock generated in the surroundings. This capacity will allow the production of 58 GWh per year of energy in biomethane, contributing to the reduction of 23,000 tons of CO2 per year.
In addition, the project will generate digestate that acts as a fertilizer and will benefit local agriculture, promoting more sustainable agricultural practices and closing the nutrient cycle efficiently.
The EY Abogados legal team that has participated in this transaction has been led by Gonzalo Martín de Nicolás (Banking & Finance partner) and Susana Gómez Badiola (corporate/M&A partner) together with Rosa Cañas Lorenzo (corporate/M&A director)
