CMS advises on the €75m refinancing of a portfolio of PV assets from Aquila European
CMS Albiñana & Suárez de Lezo has advised Aquila European Renewables on the refinancing of approximately €75 million (committed and uncommitted) for the construction of a portfolio of photovoltaic (PV) assets in Spain, with a total capacity of 180 MWp. All these assets have power purchase agreements (PPAs).
The non-recourse financing has been granted by ING Bank NV Branch in Spain.
The legal team advising on the transaction was led by Alberto Mata, partner of thebanking & finance practice, together with counsel Marta González and associate Víctor Sanjuán. This advice, in relation to the review of the financial derivatives, has been multi-jurisdictional due to the involvement of the CMS office in the United Kingdom.
