Watson Farley & Williams (WFW) advised Banco Santander on a €271 million financing granted to Equitix for the refinancing, construction, and development of a hybridised renewable energy system spanning multiple Spanish regions.
With a total combined capacity of over 320 MW, the portfolio includes two onshore operating wind farms that are being hybridised with two solar PV projects and a battery storage facility, as well as two other wind farms nearing ready-to-build status.
The financing included a term loan facility to refinance the existing debt of the operating wind farms and a capital expenditure facility to fund the construction and development of the projects currently under development. Santander, a Spanish multinational financial services group, provided the financing. Equitix is a global investor, developer, and long-term fund manager of core infrastructure assets, working in strategic partnership with Capital Energy, a renewable energy investor active across the renewable energy generation value chain, to deliver hybridised energy projects in Spain.
