Spain´s new regulatory framework for renewable energy
assets means banks are increasingly looking to finance projects
that are already in operation
Energy sector-related financing work is on the increase,
according to Watson Farley & Williams' Madrid partner
Rodrigo Berasategui, who reports significant activity in the
project, restructuring, export and acquisition finance
spheres.
"After some years of regulatory uncertainty, in 2014 Spain
brought in a new regulatory framework for renewable energy assets
and the banks have reacted in a positive way," he says.
"On the one hand, they are involved in the restructuring of
most affected projects – mostly photovoltaics (PV) and mature
wind farm projects – while on the other they are now looking
at financing projects already in operation, and previously financed
with equity, with tenors of up to ten to 12 years and competitive
loan prices." Berasategui adds that confidence in such new
regulatory framework is growing.
