Spanish developer X-Elio has secured funding for solar projects in Spain totalling 555MW.
Bankia is providing €73.6m in financing for three 50MW photovoltaic plants in Murcia.
Two of the projects will sell power through a power purchase agreement, while the third plant is a beneficiary of Spain’s second renewables auction.
CaixaBank and Banco Sabadell are providing €203m project financing for 10 solar farms totalling 421MW in Andalusia, Castile-la Mancha, Castile and Leon, Extremadura and Murcia.
Law firm Watson Farley & Williams advised the lenders on the deals.
The WFW Madrid Finance team advising on both transactions was led by Partner Rodrigo Berasategui, working closely with Senior Associate Alvaro Barro.
Rodrigo said: “It is a great pleasure to have advised the lenders on these transactions which represent major developments for Spanish renewables, confirming as they do the increasing appetite of national banks to support large project financings in the sector.”