Ashurst with Meag on the financing of a series of renewable energy assets

Ashurst Spain has advised Meag, the fund that manages Munich Re’s (the world biggest reinsurance company) investments, on the financing of the development of a series of renewable energy assets by Capital Energy.

Meag will receive 165 million euro in financing to underpin its renewable energy project. The funds, granted under the project finance modality, will be allocated to five renewable energy facilities, four wind and one solar photovoltaic, which are at different stages of development and have a total capacity of 206 MW.

The deal, one of the most important this year in renewable energy financing, will boost five important energy infrastructures not only because of their environmental value, but also because they will be able to generate -when they come on stream between this year and 2024- up to 675,000 MWh of clean energy.

Thanks to this investment, the Spanish energy company Capital Energy will be able to consolidate the implementation of its clean energy project and, at the same time, continue advancing in its process to become the first vertically integrated 100% renewable energy operator in the Iberian Peninsula.

Ashurst’s team was led by Global Loans partner, Jose Christian Bertram (pitured left); and assisted by associates, Manuela Sanz, Ignacio Piñeiro, Rafael Serrano and Teresa Bernad. On the Tax aspects of the transaction, the team was led by partner, Javier Hernández Galante (pictured right) and senior associate, José Carlos Rodea.

Cuatrecasas advised Capital Energy with a team composed by Agustín Cerdá, Lara Gutiérrez and Alejandra Molero.