Watson Farley & Williams (“WFW”) has advised Banco Santander on an approximately €90m project financing granted to Altano Energy for the financing of a 107.37 MW portfolio of 11 operational mini hydro plants and one photovoltaic (“PV”) plant currently under development in the spanish regions of Castilla-La Mancha and Castilla y León. The PV plant is expected to be operational in 2024.
Banco Santander is a spanish financial services company with an objective of raising over €120bn in green financing between 2019 and 2025.
Altano Energy is a renewable energy platform, launched in 2021 and backed by Pioneer Point Partners, which is led by a team with over 40 years combined experience in the infrastructure and energy sectors. Its current portfolio comprises over 350 MW of operational, construction stage and development wind, solar PV, hydro and hybrid assets in Iberia.
As part of the transaction, WFW has also advised Altano Energy on the signing of a long-term power purchase agreement (PPA) for the portfolio with Engie España as well as a representation services agreement with IGNIS
The WFW Madrid team that advised Banco Santander was led by partner Rodrigo Berasategui (pictured right), assisted by counsel Luis González, senior associate Antonio Cáneva and associates Antón Ramil, Elena Castro and Diana Palazón.
The WFW Madrid team advising Altano Energy was led by partner David Diez (pictured left) assisted by senior associate Héctor Suárez.