Clifford Chance advises on the financing of Spain´s largest wind farm

Clifford Chance has advised Enlight Renewable Energies on securing a €160 million loan granted by Bankia and Banco Sabadell, for the financing of Gecama wind farm

As announced today by Iberian Lawyer, wind and solar projects developer Enlight has secured a senior debt for 50% of the total cost of Gecama, which is estimated at €320 million. The financing is structured as a non-recourse loan with Spanish lenders Banco de Sabadell and Bankia.

Gecama wind farm is expected to be the largest onshore wind farm built in Spain. It is a development with an approximate capacity of 312 MW, located in several municipalities in Cuenca (Spain).

Clifford Chance has been Enlight´s legal adviser in the Gecama project financing while Cuatrecasas provided advice in the required previous acquisition, with Watson Farley & Williams advising the lenders in the funding process

The Clifford Chance team was led by Banking and Finance head partner José Guardo (pictured left), who has been supported by senior lawyer Eugenio Fernández-Rico (pictured right), along with lawyers Juan Ignacio Guillén and Alejandro Cubillo, all from the Banking and Finance department. The multidisciplinary team has been completed with the assistance of Capital Markets senior lawyer Ángel Muñoz, Litigation & Arbitration partner and Public Law specialist Jaime Almenar, and lawyer Alba Sande.

Desire Vidal