Clifford Chance advises Northland Power on debt refinancing for a 551 MW renewable energy portfolio in Spain

Clifford Chance has advised leading renewables company Northland Power on refinancing project debt amounting to EUR 690 million in a portfolio of 33 renewable power plants (wind, solar and solar thermal) in Spain, with a total installed capacity of 551 MW.

The financing was provided by CaixaBank and structured as a holdco loan, benefiting from the technological diversity of the portfolio and the specific remuneration system established in Royal Decree 413/2014.

The Clifford Chance team that advised Northland Power was led by Global Financial Markets partner Eugenio Fernández-Rico, with the support of associate Enrique Pais from the same practice, and Regulatory partner José Luis Zamarro, with the support of associate Alba Sande from the same practice.