King & Wood Mallesons advises VM Energía on the financing of two wind farms

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King & Wood Mallesons (KWM) have advised VM Energía on the financing of the construction of three wind farms (Sotillo and Tablares), located in Zaragoza and together with the wind farm Valiente, also developed by VM Energía, they will share a total approximate power of 47 MW. This project has been developed under the model ¨turnkey¨ with Siemens Gamesa as the suppliers of the wind turbines. 

The financing transaction that has followed a project finance scheme has been structured with a senior financing granted by Triodos Bank and with a bond issuance executed by the French fund, FCT Quartz. 

While the wind farm, Valiente has been fully operative since April 2018, the wind farms Sotillo and Tablares are expected to be functional by the first half of 2020. 

Joaquín Sales, Partner of the Banking and Finance Department, has led and coordinated the legal advisement to VM Energía, together with the Corporate Department Partner, Germán Cabrera and the Associates: María Redondo, Rosa Chen and Miguel Sarabia.

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