Greenalia Secures USD 124 Million Financing for Misae II Project
Deal News | Mar 17, 2025 | Iberian Lawyer
Clifford Chance has provided legal advisory services to Greenalia Power US, a subsidiary of Greenalia, on securing a financing deal amounting to approximately USD 124 million. The financing, secured under the coverage of the Spanish insurance company Cesce, involves Barclays Bank Ireland PLC and Nomura Corporate Funding Americas as lending parties. Barclays Bank also serves as the insurance agent while Acquiom Agency Services undertakes the role of collateral agent. This financial arrangement is aimed at fulfilling capital contribution commitments for the development of the Misae II photovoltaic project in Texas, USA. The legal counsel from Clifford Chance was spearheaded by a cross-border team led by partner Jos Guardo and included senior associate Antonio Sánchez-Cirujano and associate Juan Conde-Pumpido, working from the Global Financial Markets department in Madrid, alongside the firm’s New York and Washington offices.
Sectors
- Renewable Energy
- Corporate Finance
- Legal Services
Geography
- United States – The Misae II photovoltaic project is located in Texas, USA, making the United States a key geographical focus.
- Spain – Greenalia is a Spanish company and the advisory team includes members from Clifford Chance's Madrid office.
Industry
- Renewable Energy – The Misae II photovoltaic project and the involvement of Greenalia in solar energy development places the article firmly within the renewable energy sector.
- Corporate Finance – The article discusses a significant financing deal involving banks and financial institutions, hence relevant to the corporate finance industry.
- Legal Services – Clifford Chance is providing legal advisory services on the financing, making legal services a relevant industry.
Financials
- USD 124,000,000 – The total amount of the financing provided under the agreement.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Greenalia Power US | Borrower | Company | A subsidiary of Greenalia, involved in the renewable energy sector and responsible for the Misae II project. |
| Clifford Chance | Legal Advisor | Company | A law firm providing legal services to Greenalia on the financing deal. |
| Barclays Bank Ireland PLC | Lender and Insurance Agent | Company | Acts as one of the primary lenders and the insurance agent for the financing. |
| Nomura Corporate Funding Americas | Lender | Company | Serves as one of the lenders in the financing agreement. |
| Acquiom Agency Services | Collateral Agent | Company | Responsible for handling the collateral aspects of the financing. |
| Cesce | Insurer | Company | Provides insurance coverage for the financing deal. |
| Excel Advantage Services, LLC | Beneficiary | Company | Recipient of capital contributions related to the project development. |
| Jos Guardo | Legal Team Leader | Person | Partner at Clifford Chance leading the cross-border legal team. |