Repsol Secures €348 Million Financing for Renewable Energy Expansion
Funding | Jan 22, 2025 | Iberian Lawyer
Repsol Renovables, the renewable arm of Spanish energy giant Repsol, has secured a €348 million financing deal to aid the development of its renewable energy portfolio. This financing round, advised by Watson Farley & Williams (WFW), was supplied by a consortium of banks including Credit Agricole Corporate & Investment Bank (CACIB), BBVA, Banco Sabadell, and Instituto de Crédito Oficial (ICO). The funds will specifically support the construction and development of a 400 MW renewable energy project portfolio in Spain. Repsol's broader strategic goal targets the expansion of its global renewable projects portfolio, aiming to elevate it beyond 10,000 MW by the year 2027. The WFW Madrid team led by finance partner José María Anarte played a critical role, with significant contributions from various associates and regulatory specialists. Repsol's efforts align with ICO's sustainability goals, further cementing the transaction’s significance within the renewable sector.
Sectors
- Renewable Energy
- Finance & Investment Banking
- Legal Advisory
Geography
- Spain – Repsol Renovables' operations and the financing deal focus on developing renewable energy projects within Spain.
- Multinational – Participants like Repsol, CACIB, BBVA, and Banco Sabadell have operations across multiple countries, reflecting the international dimension of the deal.
Industry
- Renewable Energy – The article centers on Repsol Renovables' development of renewable energy projects in Spain, highlighting the growth momentum in the sector.
- Finance & Investment Banking – The financial transaction, including large-scale financing supported by major banks, illustrates the integral role of finance and banking in enabling renewable energy projects.
- Legal Advisory – Watson Farley & Williams provided legal advisory services for the complex financing transaction, underlining the necessity of legal expertise in such deals.
Financials
- €348 million – The total financing amount provided to Repsol Renovables for renewable energy project development.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Repsol Renovables | Target | Company | Repsol's renewable energy subsidiary seeking financing to develop its energy project portfolio. |
| Credit Agricole Corporate & Investment Bank (CACIB) | Lender | Company | International bank leading the syndicate providing the €348 million financing. |
| BBVA | Lender | Company | Large Spanish bank part of the lending syndicate for the financing deal. |
| Banco Sabadell | Lender | Company | Spanish banking group involved in the financing syndicate. |
| Instituto de Crédito Oficial (ICO) | Lender | Company | State financial agency promoting sustainability, part of the lending syndicate. |
| Watson Farley & Williams (WFW) | Legal Advisor | Company | Law firm advising the syndicate of banks on the financing transaction. |
| José María Anarte | Finance Partner | Person | Lead advisor from WFW, overseeing the legal advisory team for the financing deal. |