DLA Piper Advises Santander on €130 Million Solar Project Financing
Deal News | Dec 09, 2024 | Iberian Lawyer
In a significant move for Spain's renewable energy sector, DLA Piper has advised Banco Santander on a €130 million financing package to support the development, installation, and operation of three solar photovoltaic (PV) plants. These plants, Gazules and Mudarra 1 and 2, are spearheaded by Abei Energy & Infrastructure and are set to bring substantial solar power capacity to the Cádiz and Valladolid regions. DLA Piper's involvement encompassed various legal services such as the arrangement of financing, negotiation of Power Purchase Agreements (PPAs), and regulatory assistance. Leading the legal team were partner Pablo Echenique and finance counsel José Marco, with additional support from specialists in corporate, energy, finance, regulatory, and real estate law. Santander's internal legal representation included Elosa Martínez, Andrea García, and Jesús Blanco, while Abei's legal interests were managed by Manuel Jimenez Quiros and Saray López Lindo.
Sectors
- Renewable Energy
- Financial Services
- Legal Services
Geography
- Spain – The solar PV projects financed in the article are located in Spain, specifically in the provinces of Cádiz and Valladolid.
Industry
- Renewable Energy – The article discusses the financing and development of solar PV plants, which are part of the renewable energy sector.
- Financial Services – The involvement of Banco Santander as the financier highlights the role of financial services in renewable energy projects.
- Legal Services – DLA Piper's advisory role in this significant transaction underscores the importance of legal services in structuring and negotiating complex financial deals.
Financials
- 130 million – Total investment for the development, installation, and operation of the three solar PV plants.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DLA Piper | Legal Advisor | Company | A global law firm advising Banco Santander on the financing deal. |
| Banco Santander | Financier | Company | The bank responsible for financing the solar PV projects. |
| Abei Energy & Infrastructure | Project Owner | Company | The company developing and operating the solar PV plants in Spain. |
| Pablo Echenique | Corporate/M&A Partner | People | Lead legal advisor from DLA Piper on the project. |
| José Marco | Finance Counsel | People | Part of the DLA Piper team advising on the project financing. |
| Elosa Martínez | In-house Legal Advisor | People | Part of Banco Santander's internal legal team for the financing deal. |
| Manuel Jimenez Quiros | Legal Advisor | People | Led Abei Energy's legal team for the project. |