Watson Farley & Williams advises bank consortium on Inverland plant restructuring

A Madrid-based Watson Farley & Williams team advised a consortium of banks on the financial restructuring of the 5 MW Inverland photovoltaic (PV) plant at Valdecaballeros in Badajoz, Spain.

Inverland, which is owned by Abraxa, comprises 50 plants with an installed capacity of 100 KW each.

The consortium of banks consisted of Bank of America Merrill Lynch, Germany’s Portigon Financial Services, and Dexia Sabadell, a joint venture between the Franco-Belgian Dexia Group and Sabadell, Spain’s fifth largest banking group.

Abraxa is part of the Longsol Group, an owner and operator of utility-scale solar PV plants. The group’s current portfolio includes seven solar PV plants with an installed capacity of 80MW located in Spain, France and the US.

The WFW team advising the banks was led by Spain managing partner María Pilar García Guijarro, and included senior associate Esther González and associate Gonzalo Mateos.