Ashurst advises ING on biomethane plant development in Spain
Ashurst has advised ING as the financing bank in a pioneering transaction in Spain involving the first “Project Finance” operation for the development of a biomethane plant in the country.
In this deal, ING will support AGR Biogás, a leading company in Andalusia specializing in the promotion and management of industrial biogas plants, in constructing a biomethane production facility with a capacity of 55GWh in La Calahorra, Granada.
ING, committed to sustainability and financing projects with positive environmental impacts, is backing this joint project with AGR Biogás, which will prevent the direct emission of over 20,000 tons of CO2 annually into the atmosphere and provide support to the agricultural sector in rural areas.
The Ashurst team, led by partners Irian Saleta Martínez (Banking and Finance; pictured left) and Andrés Alfonso (Energy Transition; pictured right), was supported by Manuela Sanz, Ignacio Piñeiro, and Javier Altemir (Senior Associate and Associates in the Banking and Finance department, respectively). The transaction also involved the Corporate/M&A team with Pedro Díaz (Associate) and the Tax team with Ricardo García-Borregón (Partner).
