Clifford Chance has advised Galp on the Project Finance of five PV plants with an aggregate capacity of 236 MW located accross Spain. The c.€120m syndicated financing included innovative arrangements, in particular related with the hybridisation of the plants.

The Clifford Chance team was led by Global Financial Markets Partner Jose Guardo, with the support of Senior Associate Eduardo Sánchez, together with associates Alejandro Cubillo, Gabriel Miranda and Elena Euba. Senior Associate Ángel Muñoz advised on hedging matters and Senior Counsel Roberto Grau on tax issues.