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Iberian renewables outfit Finerge has completed the refinancing of a 242MW portfolio of seven wind farms in Spain.
BBVA, Banco Santander, CaixaBank, CIBC, ING, Intesa Sanpaolo, National Australia Bank and Siemens Bank acted as lenders for the term and working capital facility loans granted to the company indirectly owning the wind parks, which are managed by Finerge.
The refinancing follows Finerge’s recent acquisition of the wind portfolio from EDPR Renovaveis which took place at the end of last year.
The wind assets are in the provinces of Avila and Tarragona.
Finerge is Portugal’s second-largest renewable energy producer. It operates 53 wind parks and 16 photovoltaic plants across Portugal and Spain.
Spanish banks Bankia and Banco de Sabadell are providing project financing loans for the 169MW Olmedilla solar farm in Spain.
The €71.5m structured loan was granted to Olmedilla Hive, a special purpose vehicle managed by Israel-based Noy Infrastructure & Energy Investment Fund.
Olmedilla, which is located in the Spanish province of Cuenca, is currently under development and expected to become operational by 2022.
The financing follows Noy Fund’s recent acquisition of a majority stake in Olmedilla.
Law firm Watson Farley & Williams (WFW) advised Noy on the financing, as well as on all the projects agreements, including, among others, the engineering, procurement and construction (EPC), operation and maintenance (O&M) and the management services agreements.