Cuatrecasas has advised Plenium Partners on a €530 million financing agreement with CaixaBank and Abanca for a 130 MW photovoltaic portfolio comprising 70 projects located across Spain. The financed assets belong to Helia Renovables IV, an alternative investment vehicle launched by Bankinter Investment and Plenium Partners in 2020.
The projects, which have an operating track record of more than 15 years, are regulated and benefit from Spain's Specific Remuneration Regime for Renewable Energy (RECORE).
The transaction, which underscores the continued support of the financing institutions for Plenium, has strengthened the position of Plenium Partners and Bankinter Investment in the renewable infrastructure market. It has enabled the refinancing of a substantial portfolio of projects under a single financing structure, while efficiently addressing the regulatory and transactional challenges involved.
The Cuatrecasas team advising on the transaction was led by Financial group lawyers Carlos Lasarte, Íñigo Várez, Teresa Allende and Cristina Leach.
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