Watson Farley & Williams (“WFW”) has advised Banco Bilbao Vizcaya Argentaria (“BBVA”) on a €42m green loan financing granted to Matrix Renewables’ project companies Talafi Power S.L. and Tree Power Energy S.L. for the construction and operation of two solar photovoltaic plants with a total installed capacity of 66 MW located in Valladolid, Castilla y León, Spain.
Based in Madrid and Bilbao, BBVA is one of the largest financial institutions in the world.
Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $15 billion impact investing platform TPG Rise. Matrix Renewables’ current portfolio is comprised of 9.3 GW in renewable energy and storage projects in Europe, North America and Latin America.
The WFW Madrid Energy team that advised BBVA was led by Finance Partner Rodrigo Berasategui supported by Senior Associates Jacobo Hermidas (Finance), Ignacio Cacho (Real Estate) and Ignacio Soria Petit (Regulatory & Public Law) and Associates Julia Belmonte Cordero (Project & Structured Finance) and Elena Castro Urdin (Projects). London Projects Partner Katherine Best advised on the English law aspects of the transaction.
Rodrigo commented: “We are grateful to BBVA and Matrix Renewables for their trust they placed in us by once again instructing us to advise them on a major green financing transaction. They are both key players in Spain’s ever-expanding renewable energy market and the fact that they chose to instruct us highlights WFW’s standing as a ‘go to’ law firm for multijurisdictional sustainable finance expertise in the sector both in Spain and globally”.
Matrix Renewables was advised by Spanish law firm Ontier.
