Dentons advises on the refinancing of Aquila European Renewables’ 180 MWp portfolio
Dentons finance team has advised ING Bank NV Sucursal en España on the refinancing of the financial indebtedness of certain Aquila European Renewables subsidiaries related to a construction of 180 MWp portfolio of Spanish photovoltaic (PV) assets.
The non-recourse financing, amounting up to circa EUR 75 million, has been extended by ING Bank NV Sucursal en España, partially amortizing with a balloon repayment at maturity, includes an extension option, and it is secured by the 180-MWp portfolio of unlevered operating assets in Spain, all of which have power purchase agreements (PPAs) in place.
The multidisciplinary team has been led by Luis Belart (pictured right), partner of banking & finance, whose team has been integrated by Mar Sánchez-Contador, Adelaida Torres and Icíar Pérez-Puente. Collaborating on the corporate and regulatory aspects of the transaction, Fermín Garbayo (pictured left), M&A Energy partner, Almudena Gurpegui, M&A Energy associate, Javier Moya, energy regulatory partner and Nora Pallaruelo, energy & public policy and regulation associate.
