BDO advises on €105M project financing for port terminal
BDO Spain has advised Terminal Portuaria Tartessos (TPT) and its shareholders, Moeve and Exolum, as Financial Model Advisor and Financial Model Reviewer in the financial structuring and financial close of the Muelle Sur project, a new energy logistics terminal at the Port of Huelva.
The project has secured €105 million in project finance from BBVA and Kutxabank, allowing the development to move forward as construction reaches an advanced stage.
Located at the Port of Huelva, the Muelle Sur terminal will include berthing facilities as well as storage and distribution infrastructure for liquid energy bulk products and second-generation biofuels. The project forms part of TPT’s strategy to strengthen sustainable logistics infrastructure and support the energy transition in southern Spain, while enhancing the port’s role as an international hub for the handling and export of fuels and biofuels.
BDO has been advising TPT and its shareholders since 2025, supporting the transaction through financial modelling and model review services during the structuring and financing process.
The team
The Financial Model Advisor team was led by Iñigo Prior, Head of Energy Transition & Sustainable Infrastructure (TE&IS), and Jaione Aguirre de la Cruz, Director of Energy Transition & Sustainable Infrastructure (TE&IS), both within Deal Advisory.
The Financial Model Review team was led by Sergio Martín Díaz, Partner in Valuations & Business Modelling, together with Guillermo M., Director of Valuations & Business Modelling, and Tax Deals specialists Fernando Muñoz del Campo Muñoz, Partner, and Clemente Sanz Veiga Sanz, Director.
