WFW Consults on Banco Santander’s CESCE backed Green Financing for Grenergy Renovables

WFW facilitated a US$157 million green loan for Grenergy Renovables, arranged by Banco Santander and backed by Spanish ECA CESCE. The funding, covered by Cesce Green Investment Policy supported by the Spanish government, focuses on climate change initiatives. Additionally, the financing includes a swap hedge tying its interest rate to ESG targets, reflecting Grenergy’s sustainability performance. This marks Grenergy Renovables’ inaugural CESCE-backed green loan.

Grenergy Renovables, an independent power producer (IPP), specializes in developing large-scale renewable energy projects globally.

The WFW Madrid Finance team, led by Partner Rodrigo Berasategui and supported by Senior Associate Juan Vicente Barquilla and Associate Antón Ramil, successfully closed this transaction. Rodrigo expressed satisfaction with the team’s swift action, attributing it as a crucial element contributing to the deal’s success. He highlighted WFW’s extensive experience advising top-tier borrowers and lenders on significant renewable energy and export transactions, reaffirming the firm’s expertise in this realm.