WFW advises lender on €30m 98.5 MW Foresight Spanish PV plant financing

Watson Farley & Williams has advised BayernLB on €30million financing of three photovoltaic plants

Watson Farley & Williams has advised Bayerische Landesbank (“BayernLB”) on the project financing of three photovoltaic plants, with a total installed capacity of 98.5 MW, located in Granada, Spain. The bank acted as lender for a structured loan granted to the three SPVs that own the plants. The SPVs are owned by Foresight Solar Fund Limited (FSFL), a listed entity managed by Foresight Group.

Munich-based BayernLB is one of Germany’s five publicly regulated Landesbanken. Majority-owned by the State of Bavaria, it is Germany’s seventh largest financial institution. Foresight is a leading integrated British energy company with global presence and a strong commitment to reducing greenhouse emissions.

The WFW Madrid Finance team that advised BayernLB was led by partner Rodrigo Berasategui (pictured left), working closely with senior associate Antonio Cáneva (pictured top right) and associate Sara Estradera (pictured bottom right).

Berasategui commented: “We are delighted to have advised long-standing firm client BayernLB on this portfolio financing. Our role in this transaction underpins WFW’s standing as one of the leading legal advisors for finance work in the renewable energy space in Europe and, in particular, in the Spanish market”.