Cuatrecasas advises on the refinancing of the Goya Project

Cuatrecasas has advised Idesamgar on the refinancing process of the Goya Project, a portfolio comprising seven wind farms, operational from 2020, located in Aguilón, Azuara, Herrera de los Navarros and Fuendetodos (Zaragoza province).

An emblematic wind portfolio of up to 194 MW, between all the wind farms, which stands out for being the first renewable project in the Spanish market built without subsidies and the first to sign a corporate Power Purchase Agreement “PPA”. It is also important for being part of the first assets awarded in the 2016 Wind and Biomass auction, the first held after the renewable moratorium in Spain.

The Goya Project is strongly committed to the energy transition towards a carbon neutral economy. Thanks to this transaction, it has secured long-term financing from Natixis CIB, which acted as bookrunner and mandated lead arranger and provider of the interest rate derivative (ISDA). For its part, BNP Paribas acted as exclusive financial advisor and as account banker.

In legal advice, Cuatrecasas partner Agustín Cerdá led a banking law team comprising associates Jaime Juan Rodríguez, María Granero, María Alaminos and Ramiro Guisasola.

Julia Gil