WFW advises on €348 million financing for Repsol Renovables

Watson Farley & Williams has advised Credit Agricole Corporate & Investment Bank (CACIB), Banco Bilbao Vizcaya (BBVA), Banco Sabadell and Instituto de Crédito Oficial (ICO) on a €348 million financing granted to Repsol Renovables for the construction and development of a 400 MW Spanish renewable energy portfolio.

Repsol, a Spanish-based multinational energy company, currently has a portfolio of 60,000 MW in various stages of development, of which 3,500 MW are already in operation. Its strategy includes investing between €3 billion and €4 billion net to expand its global renewable projects portfolio of more than 9,000 and 10,000 MW by 2027.

CACIB is the corporate and investment banking arm of Crédit Agricole Group and supports companies and financial institutions in the development and growth of their projects through products and services in capital markets, investment banking, structured finance, commercial banking and international trade.

BBVA is a global Spanish financial group with more than 76 million active customers and more than 125,000 employees. It has presence in more than 25 countries. On the other side, Banco Sabadell is one of Spain’s leading banking groups, founded in 1881 and on the IBEX 35. With a presence in 15 countries, its commercial banking offices are located in Spain, the United Kingdom and Mexico.

ICO is a credit institution and de facto state financial agency, with its own legal personality, assets and treasury, as well as independent management for the development of its activities. ICO promotes sustainability as a pillar of its strategy and activities.

Advisors

José María commented: “It has been a pleasure to advise once again on an important financing for a key player in the Spanish energy sector. Ensuring the best outcome for our clients in the shortest possible time was our key focus and would not have been possible without the dedication and collaboration of our top-notch team.”

The WFW Madrid team that advised the syndicate of banks was led by finance partner José María Anarte, working closely with associates Antón Ramil, Sara Estradera, Julia Belmonte, Rómulo Palou de Comasema and Miquel Ros. Regulatory expertise was provided by partner Luis González and, among others, associates Paula Pérez, Isabel Rodríguez de Codes, María Vela and Miguel Rubio. Associate Pablo Vacas provided real estate advice.

Julia Gil

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