Cuatrecasas has advised the European Investment Bank (EIB) and Banco Santander on the signing of a €224 million financing agreement with Greene Enterprise to construct five innovative industrial plants in Spain. These facilities will transform more than 200,000 tonnes of waste per year into raw materials for the industry. The EIB will contribute approximately 50% of the financing, with the remaining 50% provided by Santander.
The plants, which will convert waste into high value-added industrial products, will be located in Muel (Zaragoza), La Selva del Camp (Tarragona), San Cristóbal de Entreviñas (Zamora), Madridejos (Toledo), and As Somozas (A Coruña).
The construction and commissioning of the Valogreene plants contribute to the EU's public policy goals on climate action and the circular economy, while also promoting local economic development and employment in the towns where they are located.
The Cuatrecasas team advising Banco Santander was led by lawyers Tomás Ugalde, Álvaro Pérez-Iriondo, Teresa Allende, and Unai Arredondo, with the support of Nerea Arana and Garazi Azpiazu in the due diligence process. The team advising the EIB included Héctor Bros, Pol Solsona, Mireia Martínez, and Adrián Coca.
Commenting on the deal, Tomás Ugalde stated:
"Our role in this transaction reflects Cuatrecasas’ strong position in financing innovative projects related to the circular economy and in transactions aligned with green finance principles."
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