WFW advises Natixis on €145M Greenalia refinancing
Watson Farley & Williams advised Natixis on a €145 million project finance refinancing granted to Greenalia Biomass Power Curtis-Teixeiro S.L.U., a subsidiary of Greenalia, for its biomass power plant located in Curtis-Teixeiro, A Coruña, Spain. The facility, operational since 2020, produced 375 GWh in 2025 and achieved approximately 7,500 net exportable hours.
The transaction was structured as a fully subscribed project finance facility provided by Natixis and is expected to generate annual financial savings of over €6.5 million for Greenalia, supporting the optimisation of the company’s capital structure.
The Curtis-Teixeiro plant uses certified forest biomass (FSC and PEFC), contributing to sustainable forest management and fire prevention by promoting the recovery of forestry residues that would otherwise go unused.
Natixis is a French corporate and investment bank and part of Groupe BPCE, active globally in structured finance and energy and infrastructure projects, with experience in renewable energy financing. Greenalia is a Spanish renewable energy company focused on the development, construction and operation of renewable generation assets, including biomass, wind and solar projects.
The team
The WFW Madrid Energy team advising Natixis was led by finance partner Rodrigo Berasategui, supported by senior associate Beltrán Silva and Associate María Heredero. Regulatory advice was provided by partner Lidia Fernández and senior associate Paula Pérez, while senior associate Javier Gabiña advised on tax matters.
