Clifford Chance advises Solarpack on the financing of three photovoltaic plants

Clifford Chance advised Solarpack on the financing of the design, construction, start-up and operation of three photovoltaic plants in the districts of Grullas-Pedroso, Grullas-Peñaflor and Monclova, in the province of Seville (Spain), for a value of 59 million euros of debt

The financing includes a senior facility in the form of Project Finance or non-recourse debt and one tranche of VAT financing. The photovoltaic plants, already under construction, have 100 MW of power allocated from the energy auction that took place in Spain in 2017.

Once they enter into operation in late 2019, they will have a total installed module capacity (DC power) of 112 MW.

The deal was led by José Guardo (pictured), partner of the Banking and Finance department of the Madrid office, with support from senior associate Eduardo Sánchez junior associate Gabriel Miranda.