Uría advises Grupo Saeta on €340M wind and solar project

Uría Menéndez has advised Grupo Saeta on a €340 million financing granted by a syndicate composed of several national and international banks and other financial institutions. The financing will support the repowering of wind farms located in Penamacor and Sabugal (increasing their capacity from 144MW to 164MW), as well as the hybridisation with up to 120MW of various photovoltaic power plants located in Portugal.

The Iberian law firm provided legal assistance throughout all phases of the process, including due diligence, structuring of the financing and security package, negotiation of all financial documentation, monitoring compliance with conditions precedent for disbursement, and closing of the transaction, states the law firm. The investment “reinforces the potential for growth and innovation in Portugal’s renewable energy market, positioning this transaction as a significant milestone in the development of wind and solar power generation projects”, states Uría.

The legal advisors’ team was led by José António Reymão Nogueira (principal associate, Banking & Finance, pictured), and included Diogo Zambujo (senior associate, Banking & Finance), with Marta Pontes (partner, Tax) providing tax advice on the transaction.