Uría advises MUFG Bank on €80.5M solar plant financing
Uría Menéndez advised MUFG Bank on an €80.5 million financing for the development of a photovoltaic plant in Rio Maior and Cadaval, in Portugal, with an installed capacity of 130,245.75 kWp. This transaction marks a milestone for MUFG Bank in the country, as it is the first time the bank has acted as mandated lead arranger, demonstrating the Japanese group’s confidence in the Portuguese renewable energy market and the potential of the national energy sector, states Uría.
The financing involved significant legal complexity, being structured in multiple credit tranches of different natures, including a project development financing tranche arranged through the issuance of bonds via Interbolsa, and other tranches involving the issuance of bank guarantees required for the development of a project of this kind in the renewable energy sector.
The Uría Menéndez team was led by João Louro e Costa (counsel, energy & infrastructure) and José António Reymão Nogueira (managing associate, banking & finance), supported by Jill Soet Palmeiro (senior associate, energy & infrastructure), Diogo Zambujo (senior associate, banking & finance), and Francisca Costa (junior associate, banking & finance).
On the picture, João Louro e Costa and José António Reymão Nogueira.
