Watson Farley & Williams (WFW) has advised ABN AMRO and Commerzbank, as part of a syndicate of lenders including the European Investment Bank (EIB), on a €372m loan granted to Solaria for a long-term financing of a 736 MW spanish solar PV portfolio currently under development.
Founded in 2002, Solaria is a spanish company specialised in the production of solar photovoltaic energy, with a pipeline 14,200+ MW projects currently under development in southern Europe and aiming to reach 18 GW by 2030.
By its side, ABN AMRO is a dutch bank which is committed to play a key role in the global energy transition by supporting their clients’ shift to sustainability and Commerzbank has been active in the financing of renewable energy for more than three decades and is one of the largest financiers of renewable energy in Europe.
Through this operation, the 100% renewable energy that will be produced by the portfolio’s plants will reduce emissions by 340,000 tons of CO2 and supply 416,000 Spanish homes every year.
The team from WFW advising ABN AMRO and Commerzbank was led by the partner, Rodrigo Berasategui (pictured), the senior associate, Jacobo Hermidas, and the associate, Beltrán Silva, as well as teams in the UK and Germany.
The team from Clifford Chance advising EIB was formed by the counsel, Jesús Quesada, and the associates, Virginia Jiménez and Claudia de Olaran.