Cuatrecasas advises Plenium on €530M PV financing

Cuatrecasas has advised Plenium Partners on a financing arrangement with CaixaBank and Abanca worth €530 million, covering a photovoltaic portfolio of 130 MW made up of 70 projects distributed across Spanish territory. The financed assets belong to Helia Renovables IV, an alternative investment vehicle launched by Bankinter Investment and Plenium Partners in 2020.

The projects, which have an operating track record of more than 15 years, are regulated and benefit from Spain’s Régimen Retributivo Específico para Energías Renovables (RECORE), a specific remuneration regime for renewable energy assets.

The Cuatrecasas team responsible for advising on the transaction was made up of partner Carlos Lasarte, senior associate Íñigo Várez, and lawyers Teresa Allende and Cristina Leach, from the firm’s banking and finance group.