Moron And Olivenza Concentrated Solar Power Projects’ Debt Refinancing

Clifford Chance Spain advised the banks and the institutional lenders on the deal.

The lenders refinanced the debt of the Moron and Olivenza concentrated solar power (CSP) projects in Sevilla and Badajoz, Spain with a 50 MW capacity each.

The lenders club comprised the following Mandated Lead Arrangers (MLAs): Aviva Investors, CaixaBank, Export Development Canada, ING, Rivage Investment, Santander Corporate & Investment Banking and Societe Generale.

The financing agreement complies with the LMA Green Loan Principles and the interest rate hedge derivatives incorporate a pricing mechanism that incentivises the improvement of the water footprint of the CSP plants.

The Clifford Chance team that has advised on this transaction was made by global financial markets partner, José Guardo (Picture), senior associates Eugenio Fernández-Rico and Ángel Muñoz, associate Pablo Cancelo and junior associate Mariana Ceballos.


Involved fees earner: Pablo Cancelo – Clifford Chance; Mariana Ceballos – Clifford Chance; Eugenio Fernández-Rico – Clifford Chance; José Guardo – Clifford Chance; Ángel Muñoz – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Aviva Investors; CaixaBank; Export Development Canada; ING Bank; Rivage Investment; Santander Corporate & Investment Banking; Société Générale;

Author: Federica Tiefenthaler